ESMA to review German financial reporting system after Wirecard collapse

FRANKFURT (Reuters) – The European Securities and Markets Authority (ESMA) said on Wednesday that it was reviewing Germany’s financial reporting setup in the wake of Wirecard’s collapse.

“High quality financial reporting is core to investor trust in capital markets and Wirecard’s collapse has undermined this trust. Therefore, it is necessary to assess these events to help in restoring investor confidence,” ESMA said.

(Reporting by Tom Sims; Editing by Riham Alkousaa)