Wirecard’s share price has fallen by $10 billion since the FT published a series of reports into an alleged accounting scandal in their Asia-Pacific division.
Wirecard have said that
“We would like to reconfirm that the accusations against employees of Wirecard are unfounded. We are working closely with the Singapore police to clear all allegations.”
Don’t agree with Odey most of the time, but this time I support his move into looking to sue BaFin. I don’t think it’s right for regulators to ban short selling because “recent price volatility risks undermine the broader stock market”.
It’s not a good look is it! They must be pretty concerned because I guess that doing that sort of thing too often could put investors off investing in companies that’re listed on the German exchanges
Your Curve card and all associated Curve transaction and money transfer services will be temporarily suspended with immediate effect. Please be assured, we expect to be up and running again shortly but it may take a few days. Your money and card details held at Curve are safe and secure.
This has happened because the Financial Conduct Authority1 has this morning suspended its permission for Wirecard Card Solutions Limited (the company who currently issues Curve Cards) to operate, without prior notice. This action is not related to Curve - but Curve currently depends on Wirecard for operation of the Curve card.
We are already well on the way to migrating away from Wirecard but have not fully completed this process. We are now working round the clock to achieve the migration as quickly as possible and therefore expect this disruption to last for only a limited period of time.
We will continue to communicate the details of what this means for you during this interim period.