(RTTNews) – The European Securities and Markets Authority (ESMA, the EU stock market regulator, has published the effects of its peer review that assessed the pre-collapse occasions of Wirecard AG (WRCDF). PK). in response to a request from the European Commission. The peer review experienced gaps in the monitoring and implementation of Wirecard’s monetary reports. Peer review also made recommendations to address these deficiencies.
AEMF became aware of deficiencies in the application of GLEFI in the Wirecard case. This includes: BaFin’s independence from issuers and the government; market monitoring through BaFin and FREP; Frecard’s monetary reporting procedures; and the effectiveness of the surveillance formula in monetary information.
Peer review times of lack of coordination and inefficiency in data exchange between competent BaFin teams.