The Dax is facing extensive reforms
Not only because of the Wirecard scandal were the voices louder, according to which the Dax should also change. Deutsche Börse has now delivered. Sustainability falls by the wayside.
Und it moves. Deutsche Börse had to take a lot of criticism when Wirecard remained in the German leading index Dax for months despite overwhelming allegations of fraud and the ensuing bankruptcy – the index for the supposedly most valuable companies in Germany. The Dax got into the talk. Deutsche Börse has now drawn conclusions from the Dax crisis. The indices are being reformed. That was overdue.
In order to be able to classify the innovations and changes, it is important to understand Wirecard as part of these reforms. Will a new disaster be prevented if the changes that have now been initiated take effect? Most likely not. Despite all the rightly articulated outrage about the failure of supervisory authorities, auditors and supervisory boards, Wirecard is and will remain a large-scale fraud. It is true that the stock exchange is tightening the rules for membership in the stock exchange’s indices. Audit committees are now just as mandatory as the timely announcement of quarterly and annual figures. Those who fail to deliver and exceed warning periods are thrown out. So far the hands of the stock exchange have been tied. However, criminal energy can always find its way. There can be no one hundred percent protection.