Bafin head leaves on the back of Wirecard structured product scandal

Felix Hufeld (pictured) , the head of the German Federal Financial Supervisory Authority (known as Bafin) has resigned after a ‘mutually reached conclusion’ with the German minister of finance, Olaf Scholz. The announcement follows last week’s criminal complaint against an employee on suspicion of insider trading involving structured products. Bafin has been heavily criticised since the summer of 2020 and under heavy pressure over the scandal. The regulator was accused of poor