FCA says it is in a position to allow Wirecard to resume operations
Customers are set to be able to use their cards as usual.
The UK Financial Conduct Authority (FCA) published another update on the Wirecard matter last night.
The regulator notes that it has been working closely with Wirecard UK and other authorities over the last few days to ensure that the firm was able to meet certain conditions required to lift the restrictions the FCA imposed on it. The FCA says it is now in a position to allow Wirecard to resume operational activity.
This means customers will now, or very shortly, be able to use their cards as usual.
If any customers are still experiencing difficulties in using their card, they should contact their card provider directly and should do so using the contact details on their website, the regulator advises.
Following last week’s news of €1.9 billion missing from the accounts of the German company, Wirecard, the FCA imposed requirements on the firm’s UK business so that it should stop carrying out regulated activities and not pay out or reduce any money it holds for its customers except on their instructions.
There are ongoing events in Germany concerning companies closely linked to Wirecard. Wirecard’s parent company, Wirecard AG based in Germany is currently the subject of law enforcement interest and insolvency proceedings. Wirecard AG is not supervised by the FCA.
