In this article, we examine (1) the new regime for safeguarding of customer funds applying to UK payment and electronic money institutions, (2) the impact these reforms will have on those firms and (3) in particular, the indirect effect the reforms will have on banks holding safeguarded funds and insolvency practitioners who manage the insolvency of a failed payment or electronic money institution.
United Kingdom, Banking, Insolvency & Restructuring, IT & Data Protection, Mayer Brown LLP, Insolvency, Financial Conduct Authority (UK)
Summary
United Kingdom, Banking, Insolvency & Restructuring, Mayer Brown, Financial Conduct Authority (UK), HM Treasury (UK), Bank of England, Prudential Regulation Authority (UK), Banking Act 2009 (UK)
In part 2 of this 3-part series, Omni Bridgeway turns to Nathan Landis, an Investment Manager based in our Perth office, Shane Taylor, a Business Development Director based in our Sydney office,
Australia, Indonesia, Malaysia, Thailand, Energy & Natural Resources, Insolvency & Restructuring, Legal Tech, Litigation, Projects & Procurement, Omni Bridgeway, Renewable energy, Force majeure, Coronavirus