FCA secures the special administration of Euro Exchange Securities UK Ltd over serious FC concerns, marking the first use of its powers under the Payment and E-money Insolvency regime

he FCA has secured a High Court order appointing special administrators to Euro Exchange Securities UK Ltd (EES) after identifying serious concerns about the firm’s operations and potential financial crime risks. EES has ceased trading and agreed not to challenge the court’s decision, with administrators now working to return client funds as quickly as possible. The case marks the FCA’s first use of the Payment and Electronic Money Institution Insolvency Regulations 2021 and reflects its broader strategy of working with government partners to disrupt financial crime…