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Germany to Revamp Financial Oversight After Wirecard Damage

  • BaFin’s role should be expanded, deputy finance minister says
  • Germany splits accounting enforcement between several entities
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Germany will be quick to overhaul its regulation of financial companies to repair the damage caused by Wirecard AG’s collapse, Deputy Finance Minister Joerg Kukies said.

“What we must do is analyze, by turning over every stone, exactly where and how things went awry,” Kukies said at an event organized by the publisher of Die Zeit newspaper.