On 4 June 2026, the FCA required Euro Exchange Securities UK Limited (EES) to cease carrying out any regulated electronic money or payment services and, on the FCA’s application, interim managers were appointed by the Court over EES.
Serious concerns around the way EES operated its business indicated there were significant risks of financial crime. This includes systemic weaknesses in the firm’s financial crime framework and safeguarding arrangements, alongside its ownership and governance. These risks could have had an impact on both consumers and the integrity of the market.
The appointment of the interim managers was made by the Court under the Payment and Electronic Money Institution Insolvency Regulations 2021Link is external .
EES will have an opportunity to be heard on 11 June 2026, following which the Court may lift the current order or place EES into special administration.
Background
- Duncan Perring and James Bennett of Teneo Financial Advisory LimitedLink is external have been appointed as interim managers.
- The interim managers are officers of the Court, who have been appointed to temporarily oversee EES’ affairs until the next Court date, on 11 June 2026.
- Further information about the requirements applied to the firm can be found on the FCA Register.
