Well, then let’s give the regulator more money and personnel.
To ensure that they keep on failing in the future? Government in action, folks. If it’s not too big to fail it’s too much of a failure to fail, I guess.
Germany to overhaul regulator after Wirecard scandal – Germany’s finance minister wants to beef up the nation’s financial regulator in the wake of the Wirecard scandal. The finance watchdog admitted its ineffectiveness in preventing the auditing disaster.
“If we come to the conclusion that BaFin needs more money, more jobs and more competency, I will make every effort to ensure that this happens.”