Germany’s stock exchange plans tougher rules after Wirecard scandal

Bull and bear statues outside Frankfurt's stock exchange. Photo: Alex Domanski/Reuters
Bull and bear statues outside Frankfurt’s stock exchange. Photo: Alex Domanski/Reuters

Deutsche Börse, Germany’s stock exchange operator, is considering stringent new admission rules as part of reforms in the wake of the Wirecard accounting-fraud scandal.

It is also proposing increasing the size of the blue-chip DAX index (^GDAXI) from 30 to 40 companies.

“It’s no secret that I personally would welcome the expansion of the Dax 30 to a Dax 40,” said Deutsche Börse chief executive Theodor Weimer on Monday. “I am looking forward to the result and am sure that the further development of the criteria will help the German capital market to achieve further quality.”

READ MORE: German lawmakers to launch parliamentary probe into Wirecard scandal

Investors have until 4 November to submit their comments on the stricter new admission criteria, which include banning companies from the DAX if they don’t submit their accounts on time.

Members of

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