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
NCDEX finds itself in conflict with government clearing house proposals
Regulator set to focus on backtesting and replicability of index products
2015 rules promise oversight increase
Recent Iosco consultation paper aims to better co-ordinate global regulation
Sign up for Risk.net email alerts
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
Operational risk and the challenges of defining and dealing with conduct risk
There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.