Wirecard abuse review by ESMA: conflicts of interests in national financial supervision and need for collective redress

3 November 2020 – BETTER FINANCE thanks the European Securities and Markets Authority (ESMA) for its “peer review” report on the Wirecard scandal. It is quite revealing of the many failures and conflicts of interests that can plague even the most resourced national financial supervisors. It is unfortunate however that ESMA did not look into the handling by the national