Halo Financial enters special administration under PSR regime

Halo Financial Limited, an FCA-authorised payment services provider, entered special administration on 29 May 2026 following a prior voluntary restriction on activities.

Halo's collapse under the Payment and Electronic Money Institution Insolvency Regulations follows an April 2026 voluntary undertaking restricting its activities. The case underscores PI sector fragility and the safeguarding regime's role in customer fund recovery.

Reinforces counterparty risk and safeguarding scrutiny for payment institutions and partner banks.

Illustrates use of special administration regime and continued stress in payment institution sector.

“Halo Financial Limited, an FCA-authorised payment services provider, entered special administration on 29 May 2026 with BTG Begbies Traynor appointed as joint special administrators, following a 30 April 2026 voluntary undertaking restricting its activities.”