Audit Regulator Who Bought Wirecard Shares Faces Scrutiny (2)

The head of Germany’s accounting regulator faces scrutiny after telling a parliamentary committee that he traded Wirecard AG shares while his agency was reviewing the now bankrupt payment company’s external audits.

Germany’s economy minister Peter Altmaier told reporters in Berlin Friday that his staff will investigate the issue. Another lawmaker is calling for an insider-trading probe.

At a parliamentary hearing that ran past midnight, Ralf Bose, head of the accounting regulator, APAS, testified that he bought Wirecard stock at the end of April and sold it on May 20, at a loss. Within that period, APAS had upgraded its preliminary ...