UK Special Insolvency Regime for Payment and Electronic Money Institutions prioritises return of customer funds

A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).

Filed under:
United Kingdom, Banking, Insolvency & Restructuring, Taylor Wessing, Insolvency, Financial Conduct Authority (UK)
Authors:
Kirsten Fulton-Fleming , Charlotte Witherington
Location:
United Kingdom
Firm:
Taylor Wessing
UK Special Insolvency Regime for Payment and Electronic Money Institutions prioritises return of customer funds

A special administration regime for Payment and Electronic Money Institutions (PIs and EMIs) was established in The Payment and Electronic Money Institution Insolvency Regulations 2021 (the Regulations).

Filed under:
United Kingdom, Banking, Insolvency & Restructuring, Taylor Wessing, Insolvency, Financial Conduct Authority (UK), HM Treasury (UK), Bank of England, Payment Systems Regulator (UK)
Authors:
Kirsten Fulton-Fleming , Charlotte Witherington
Location:
United Kingdom
Firm:
Taylor Wessing