FCA halts Euro Exchange Securities over financial crime concerns
FCA required Euro Exchange Securities UK Limited to cease e-money and payment services; Court appointed interim managers due to financial crime and safeguarding concerns.
The FCA identified systemic weaknesses in EES's financial crime framework, safeguarding and governance, prompting cessation of regulated activity and Court-appointed interim managers. The action signals continued FCA scrutiny of e-money and payments firms with deficient AML and safeguarding controls.
Reinforces FCA's intensified supervision of e-money and payment institutions on AML and safeguarding.
Action Required
Review financial crime frameworks, safeguarding arrangements and governance controls in payments and e-money businesses.
Significant intervention highlighting persistent supervisory focus on payments sector controls.
Benchmark financial crime framework, safeguarding arrangements and ownership/governance against FCA expectations; remediate gaps proactively.
“FCA required Euro Exchange Securities UK Limited to cease e-money and payment services on 4 June 2026 over systemic financial crime, safeguarding, ownership and governance weaknesses; interim managers were Court-appointed.”