Deutsche Boerse wants power to name and shame in Wirecard’s wake

Business

FRANKFURT – Germany’s exchange operator wants the power to name and shame companies in the wake of the Wirecard (WDIG.DE) scandal, the chief of Deutsche Boerse (DB1Gn.DE) said on Wednesday.

Theodor Weimer, outlining a series of reforms he was pondering in the aftermath of the country’s biggest post-war corporate fraud, said other exchanges around the world are vocal when a company is late in publishing its earnings.

“We will certainly go in the direction of naming and shaming,” Weimer told a banking conference.

Weimer said that he urged parliamentarians this week, at a closed-door hearing about the collapsed payment company, to change laws to allow him to be public in stating where he sees problems.

He also said that they would look at increasing sanctions and improving corporate governance rules for membership of Germany’s blue-chip DAX .GDAXI index.