German finance minister pushes chief regulator out

germany-reichstag-berlin

The head of Germany’s Federal Financial Supervisory Agency, or Bafin, agreed to resign after a discussion with the country’s finance minister regarding the Wirecard scandal.

Finance minister Olaf Scholz released a statement on January 29 saying that he had discussed the massive fraud at Wirecard with Bafin head Felix Hufeld. Scholz said they “came to the mutual decision that, in addition to organisational changes, there should also be a new start in terms of personnel at the top of Bafin”.

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