The investment made by Toto Wolff into Aston Martin shares is unlikely to be investigated after review from the regulators.
Earlier in the week, Canada’s Le Journal de Montreal, reported about a possible investigation into Wolff’s personal investment into buying 0.95 percent shares of Aston Martin – the car manufacturer and not into its F1 team.
There was a suspicion of insider trading, considering the close ties Wolff and Lawrence Stroll share. The newspaper reported that Wolff’s investment co-incided with two key movements from Daimler AG/Mercedes side into Aston Martin.
German stocks watchdog, BaFin, were involved in making the report, but as per The Financial Times, the regulators have since reviewed the trading and noted that there is no evidence of any insider trading, which would have led to a thorough investigation.
Both BaFin and UK’s Financial Conduct Authority states that, there is no needed for any further investigation into the matter. The Financial Times has reported on the basis of BaFin’s findings, whereas the FCA declined to comment on the matter all-together.
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