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).
United Kingdom, Banking, Insolvency & Restructuring, Taylor Wessing, Insolvency, Financial Conduct Authority (UK)
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).
United Kingdom, Banking, Insolvency & Restructuring, Taylor Wessing, Insolvency, Financial Conduct Authority (UK), HM Treasury (UK), Bank of England, Payment Systems Regulator (UK)
On 31 October 2023, Federal Law No. 51 of 2023 Promulgating the Financial and Bankruptcy Law (the Bankruptcy Law) was published in the United Arab Emirates (UAE) Official Gazette, repealing the prior federal law on bankruptcy (Federal Law No. 9 of 2016, the Prior Law) and significantly developing the bankruptcy regime in the UAE.