Publication Date: 2020-06-30
The UK's financial watchdog has lifted restrictions on German payments company Wirecard, allowing it to resume payment activities. The Financial Conduct Authority (FCA) imposed restrictions on the company's UK arm after its collapse last week. Thousands of people could not access their money or make payments through apps as a result. The FCA said its primary objective all along has been to protect the interests and money of consumers. Customers should now, or very shortly, be able to use their cards as usual. the FCA's interim chief executive, Christopher Woolard told the BBC's that the FCA had imposed very strict conditions on Wirecard's UK subsidiary based in Newcastle, which had knock-on effects for about 70 payments firms. Learn more about your ad choices. Visit megaphone.fm/adchoices
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