Reportedly, the Federal Financial Supervisory Authority (BaFin) has banned opening new short deals and increasing volumes of existing ones on Wirecard AG shares. The ban remains in force until April 18, 2019. The European Securities and Markets Authority (ESMA) has supported this decision. According to ESMA, the current circumstances related to the company are not favorable for financial operations. Moreover, these circumstances pose serious risks to investor confidence in Germany, the authority stated.
In February 2019, the Financial Times published an investigative report that revealed facts of financial manipulations in Wirecard’s branch in Singapore. After that, the shares in the German Internet company plunged. The company became subject to audit. The Singapore authorities suspect Wirecard of accounting and financial statements frauds.
Earlier this month, the Public Prosecutor's Office of Frankfurt Am Main started an investigation regarding Wirecard’s allegations of possible manipulations in the stock market that could entail a crash in the company’s shares. Wirecard stated that it plans to file a suit against the Financial Times concerning a series of publications about its activities.
The Wirecard Group is licensed to issue its own payment tools such as virtual cards or mobile payment solutions.
*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.
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