Tag: #ESMA

ESMA Report on Wirecard Scandal

by Martin Banks

The European Securities Markets Authority (ESMA) has presented its long-awaited report on the role of the German financial supervisor BaFin and the German Financial Reporting Enforcement Panel (FREP) in the Wirecard accounting scandal.  In Germany, BaFin and FREP are jointly responsible for the enforcement of financial reporting. ESMA publishes guidelines aimed at harmonising enforcement throughout…

Crowd-funding for SMEs

by Martin Banks

Parliament’s negotiating team reached a deal with the Council on Wednesday on EU-wide rules to help crowdfunding services function smoothly and foster cross-border business funding. The uniform set of criteria will apply to all European Crowdfunding Service Providers (ECSP) up to offers of EUR 5 000 000 (from EUR 1 000 000 proposed by the…