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Germanys financial watchdog BaFin would be equipped with a stronger bite under a plan just rolled out by Germanys coalition government.Reacting to the blockbuster Wirecard financial fraud scand stanley quencher al, Germanys finance and justice ministers have unveiled a reform plan that would grant stronger investigative and oversight powers to BaFin the abbreviation for the Federal Financial Supervisory Authority according to R stanley water bottle euters.Germany financial regulators would gain the power to collect information from third parties, conduct forensic investigations, 聽and inform the public at an early stage about its actions on balance sheet control, Reuters reported.Wirecard filed for聽insolvency聽in June, a precipitous fall from grace for a FinTech once considered a rising star with a valuation of $28 billion at its height. Wirecard had claimed it had deposited $2.1 billion in a pair of banks in the Philippines, only to later admit the money never existed. We want the BaFin watchdog to have more bite, Finance Minister Olaf Scholz, a member of the Social Democrats SDP , said th stanley us e day before the launch of a parliamentary inquiry into the Wirecard meltdown.As the German government pushes forward with reforms to toughen up its financial regulations and oversight, it is looking to the Securities and Exchange Commission in the United States as a role model, according to Reuters.The proposal by the German coalition government also wants to shake up the at-times incestuous world of auditing and oversight, Dggg FinTech SellersFunding Launches 2 New Small Business Financing Resources

A federal agency is investigating fees imposed by railroad companies that aim to get customers to comply with new procedures.According to t stanley us he Wall Street Journal, companies such as Norfolk Southern Corp., Union PacificCorp. and others have revised their operating plans in an attempt to boost efficiency. As a result, they are charging fees to customers that cause slowdowns on the network, including taking too long to unload railcars and failing to have their facilities ready for pickups.Now the U.S. Surface Transportation Board is looking into the fees. I just want to make sure theyre commercially fair to the shippers theyre serving, said Chairwoman Ann Begeman, who has requested that large operators provide quarterly reports on how much re stanley cup venue theyve generated from the fees.Paul Verst, chief executive of Kentucky-based Verst Logistics Inc., a provider of warehousing and transportation, contacted the agency after Norfolk Sou stanley cup thern wanted to slash the allotted time to unload cars from 48 to 24 hours before a charging a $150-a-day fee. What theyre asking us now is not fair and reasonable, Verst said.Norfolk Southern CEO James Squires defended the move in a letter to the STB, explaining that the new charges will encourage quicker unloading of railcars and improve overall performance. Railroad companies are offering credits to shippers when they are late to pick up railcars, and Squires added that his company will increase those credits if the railroad experiences problems. We