German financial watchdog: AI is helping to catch market abuse
BaFin President Mark Branson said the supervisor had started using artificial intelligence last year in its alert and market analysis system.
"We can already see from this that the results of this analysis system have become more accurate," Branson said at a conference.
"The chances of being caught in market abuse trading have never been so high, and here in Germany we know that the penalties for this can also be considerably high," he warned.
BaFin under Branson has been trying to burnish its reputation after the fall of Wirecard, a former blue-chip hailed as a German success story and once worth $28 billion.
The supervisor failed to spot accounting fraud at Wirecard ahead of its collapse in 2020, resulting in an effort to give BaFin "more bite" with a change in top leadership and more powers to spot and investigate wrongdoing.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
CNA
7 days ago
- CNA
Intel's Frankfurt-listed shares rise 3.6% after report US could take stake in chipmaker
LONDON :Intel's Frankfurt-listed shares rose 3.6 per cent on Friday, a day after Bloomberg News reported the Trump administration is in talks with the struggling chipmaker to have the U.S. government potentially take a stake in the company. Intel's U.S. shares surged more than 7 per cent in regular trading Thursday and then another 2.6 per cent after the bell.
CNA
07-08-2025
- CNA
Apple shares rise as US investment pledge eases tariff concerns
Iphone maker Apple shares rose 1.6 per cent in early Frankfurt trade after the company committed an additional $100 billion in U.S. investments, easing concerns over the impact of Washington's tariffs on semiconductor imports. President Donald Trump said a new 100 per cent tariff rate he announced on Wednesday would not apply to companies that have made a commitment to manufacture in the United States.
CNA
06-08-2025
- CNA
Exclusive-Hg weighs sale of $1.9 billion financial data firm FE fundinfo
LONDON/FRANKFURT :Buyout company Hg has begun lining up advisers to explore a possible sale of its financial data firm FE fundinfo, three people familiar with the matter told Reuters, following on from a series of deals in the highly valued sector. The London-based FE fundinfo could generate around 70 million pounds ($93.2 million) in earnings before interest, taxes, depreciation, and amortisation this year and could fetch more than 20 times this in a sale. That would make it worth more than 1.4 billion pounds, one of the sources said. All three sources spoke on condition of anonymity because the talks are private. They said no final decision had been taken and preparations were at an early stage. Although they expected Hg to proceed with an auction towards the end of the year, the timeline could slip into next year. Hg and FE fundinfo declined to comment. FE fundinfo, which provides investment data and performance analysis to asset managers and other financial institutions, is expected to attract attention from global exchange and wealth management groups as well as private equity firms, one of the people said. In a series of deals over recent years, companies that provide specialised financial technology and data to clients including banks, asset managers and investment groups, have changed hands at elevated valuation multiples. Financial software provider SS&C Technologies in July bought Calastone for about 766 million pounds, and UK data group Preqin was sold to BlackRock last year for 2.55 billion pounds. A possible sale of FE fundinfo also highlights how private equity, after sitting on the sidelines of dealmaking, has again become active, helping drive global M&A to a $2.6 trillion peak year-to-date. The company was created in 2018 through the merger of three companies FE, F2C and fundinfo, the same year that Hg became an investor. It has made five acquisitions in the last year, including data firm Fundipedia in May, UK-based Lunar AI in April and German fintech specialist Dericon last year, all for undisclosed amounts. FE fundinfo connects fund managers and fund distributors, which it says enables them to share and act on trusted information to make investment more efficient. ($1 = 0.7519 pounds)
