German regulator Bafin has initiated an insider trading investigation
BERLIN - German federal regulator Bafin has begun an insider trading probe into an alleged scam involving shares in subscription TV broadcasting firm Premiere.
The regulator's investigation is looking into trades linked to a correction in the company's subscription base, a Bafin spokesman reportedly told Reuters. In October 2008, Premiere said it was changing its method for counting subscribers, causing its list of subscribers to fall by 940,000 compared with the previous list.
Premiere is undergoing a restructuring plan in an attempt to find €525 million ($689 million) through two issues of new shares. The subscription window for the second rights issue will close on April 17.
More on Regulation
New product issuance in Europe could dry up as result of overbearing new rules, says Graf
Malaysia central bank chief urges giving peers greater regulatory powers
Banks warn of "massive" impact from EBA proposals, which would limit credit lines
Central bank governor says local banks ready for the LCR
Sign up for Risk.net email alerts
Sponsored video: Elseware
Oxford professor David Vines argues that the carrot is as important as the stick
Sponsored webinar: IBM
Watch highlights of this year's London conference
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.