An investigation by the Handelsblatt shows that the auditors at EY no longer “believed in the innocence of the management” of Wirecard already in early 2019. Previously, incriminating material had been leaked to the audit firm by a whistleblower. Wirecard’s supervisory board also knew about the auditors’ concerns. But EY caved in: Only weeks later, […]
Brexit letter bears green signature: EU economics lawmakers call for improvements
Dear friends, dear interested, The draft Trade and Cooperation Agreement between the EU and the UK must not open the door to tax avoidance and money laundering. The Economic and Monetary Affairs Committee of the European Parliament has reiterated this demand in a joint letter supported by all pro-European political groups. Concretely, we demand that […]
Big clash about PRIIPs avoided: EIOPA gives in to demands of the European Parliaments
Dear friends, dear interested, The big clash was avoided only at the last minute: Two days ago, on 3 February 2021, the European Insurance and Occupational Pensions Authority (EIOPA) adopted a long-awaited regulatory text on the so-called PRIIPS Regulation at the second attempt, thus giving in to demands from the European Commission and the European […]
GameStop frenzy relentlessly exposes inefficiency of stock markets
Dear friends, dear interested, It is a battle between David and Goliath that has been unfolding around the GameStop share for about a week now. On the one side: big players in the financial sector, first and foremost American hedge funds. On the other: a swarm of internet-savvy retail investors who want to beat the […]
Elderson: European banking supervision will become stricter and greener
Today, on 26 January 2021, the Committee on Economic and Monetary Affairs (ECON) of the European Parliament voted in favour of Frank Elderson as Vice-Chair of the Supervisory Board of the ECB’s Banking Supervision. The decision was taken in a secret ballot. EPP, S&D, Renew and us Greens had indicated their approval. There were 46 […]
Coronavirus: Study shows danger of air pollution
Dear friends, Dear interested, Many scientists suspect that air pollution has a negative impact on the number of transmissions and the risks of a COVID-19 infection. After all, it is well established that particulate matter, nitrogen oxides, and other hazardous airborne substances lead to lung and cardiovascular diseases. People with these pre-existing conditions are considered […]