UK Keeps Wirecard Operations On Hold To Protect Customers

Law360, London (June 29, 2020, 4:16 PM BST) -- The Financial Conduct Authority said Monday that it will keep restrictions in place against Wirecard AG's U.K. operations until it can prove that its customers' money is safe, putting pressure on the payments company to resolve questions linked to a €1.9 billion ($2.3 billion) accounting scandal.

The FCA said it has worked with Wirecard Card Solutions Ltd. over the weekend. The City watchdog said the company has made "good progress" on safeguarding its clients' money after its parent company filed for insolvency in Germany last week.

The regulator ordered Wirecard's U.K. business on Friday to halt all regulated activity so that it...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!