FILE PHOTO: The headquarters of Wirecard AG, an independent provider of outsourcing and white label solutions for electronic payment transactions is seen in Aschheim near Munich, Germany April 25, 2019. REUTERS/Michael Dalder/File Photo
FRANKFURT (Reuters) – Germany’s market regulator said on Friday it was investigating whether Markus Braun, the CEO of payments firm Wirecard, had violated insider-trading rules by buying stock during the quiet period before publication of its annual report.
“We are examining whether the share purchase did indeed violate the trading ban,” a spokeswoman for regulator Bafin said, confirming a Financial Times report that Braun this week bought Wirecard stock worth 2.5 million euros ($2.78 million).
Braun bought the shares through his investment company MB Beteiligungsgesellschaft, helping lift Wirecard shares on Thursday. “Capital market rules were fully met,” an MB representative said without elaborating, while Wirecard declined to comment….
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