After repeated rate turbulence with the payment service provider Wirecard, the Munich public Prosecutor’s office determined against a journalist of the Financial Times (FT). Accordingly, an investor of a criminal complaint. Is determined according to the FAZ on account of offences according to the securities trading act (WpHG).
according to The report, the office of the public Prosecutor are statements by a short seller, was informed in advance about when the Financial Times laundering over alleged accounting violations, as well as money in a Wirecard-branch office in Singapore reported. If this is the case, would the disclosure of this Information may be a breach of the securities trading act. In fact, the company’s stock slumped after the publication of the research.
Whether the planned press reports, the journalists were informed in advance specifically to insiders and whether these are applicable must be clarified. Wirecard rejects in the research allegations as a defamation.
, it is Clear that for financial journalists special rules apply to the securities trading act. The press code provides that journalists should observe special ethical Standards when reporting on the Events in the financial markets and have inside information. So Directive 7.4 regulates, for example, that journalists may not use information prior to publication only for journalistic purposes, but not for their own personal advantage or for the personal benefit of others. The press code is not a criminal unfolds, however, legal effect, but only of a rule is the work of the voluntary press self-control and it is only valid for media in this country, the FT has its headquarters in London
BaFin is putting trade first, from
forbidden The Federal financial Supervisory authority BaFin under the new speculation in the case of the end of Wirecard stock prices. As the authority announced in Bonn, Germany, may up to 18. April neither a new net-short positions in the shares of Wirecard AG established existing net short positions are increased.
This is aimed at a specific group of speculators, the so-called short seller. These Short Sellers want to make money with falling prices. Here, you borrow shares for a fee and sell them on the market. The stock then drops the course, you can buy the shares back cheaper back-to-back to give the actual owner a fixed point in time. The more the price falls, the greater the profit, the short seller to make a Speculate.
The financial Supervisory authority justified its action with the risk of market uncertainty. In the past few days, massive uncertainties had been on the financial markets ascertainable, the market price of Wirecard was enormously staggered, what a Dax company is rather unusual. The benchmark index, the Dax included Wirecard AG stock had lost about 40 percent of its market capitalization. In fact, the Federal office in such a case, it may suspend trading with individual or several financial instruments for a limited period of time, in order to stabilize the financial system. Also, the European securities and markets authority (Esma) saw in the course of “market confidence in Germany is seriously threatened”. The Paris-based authority approved the measures taken by the BaFin.
The company was formed in 1999, Wirecard, was, according to the BaFin, as early as 2008 and 2016, the target of so-called Short-attacks. Then, too, there had been price declines. The financial service provider has its headquarters in Aschheim near Munich and handles for corporate clients all over the world for online payments between consumers, merchants and banks. The group benefited like few others from the global shift of payment flows on the Internet.
In premarket trading, Wirecard-shares listed earlier this week, four per cent in the Plus.