The biter bit

摘要

Banks that step out of line can usually expect a strong dressing down from Jo-chen Sanio, head of BaFin, Germany's leading financial regulator. Mr Sanio, a picture-book Prussian with a neat moustache, loves a good scrap over legal matters in the banking industry. So there has been a certain relish, not to mention schadenfreude, in seeing the pedagogue himself being brought to book over mounting evidence of sloppy administration at BaFin.