UK regulator confirms administrators appointed at Glint Pay Services

Maria Nikolova

Unfortunately, Glint safeguarded funds are not protected by the UK Financial Services Compensation Scheme.

The UK Financial Conduct Authority (FCA) has earlier today provided information for customers of Glint Pay Services Ltd.

Glint Pay Services Ltd (FRN 900657) is authorised and supervised by the FCA to issue e-money and provide payment services under the Electronic Money Regulations 2011 (the EMRs).

The regulator confirms that, on September 18, 2019, Jason Daniel Baker and Geoffrey Paul Rowley of FRP Advisory LLP were appointed as joint administrators of Glint.

Customers who have money with Glint are advised to contact the joint administrators if they are concerned, have any questions or for any updates:

  • Email: [email protected]
  • Address: c/o FRP Advisory LLP, 110 Cannon Street, London EC4N 6EU

    Source: FCA register.

Glint holds funds on behalf of its customers. Safeguarding is a key consumer protection measure within the EMRs and Payments Services Regulations (PSRs). The purpose of safeguarding is to protect customer money if a firm fails in a disorderly way.

Safeguarding requirements apply to Glint and are a condition of Glint’s authorisation that the firm must comply with at all times.

According to the FCA register, requirements are imposed on the firm. In particular, the firm must comply with the requirements in regulation 78A(2)(b)of the Electronic Money Regulations 2011 to refrain from providing account information services or payment initiation services for an indefinite period.

Unfortunately, Glint safeguarded funds are not protected by the UK Financial Services Compensation Scheme (FSCS). The regulator explains that FSCS only applies to certain types of activity. This does not include issuing electronic money or payment services.

Read this next

Digital Assets

BlockDAG Presale Raises $9.9M as Batch 5 Nears Sell-Out Amid Bonk’s Fluctuating Trading Volume & Spell’s Bullish Price

Explore BONK’s trading volume, SPELL’s market shifts, and why BlockDAG’s 10,000 ROI makes it an ideal crypto for savvy investors in 2024.

Digital Assets

Cathie Wood’s sponsored Bitcoin ETF sees historic $200 million inflows

The ARK 21Shares Bitcoin ETF (ARKB), co-sponsored by Cathie Wood’s ARK Invest, registered historic inflows exceeding $200 million on Wednesday, signaling a robust appetite among investors for Bitcoin-centric investments.

Digital Assets

Sam Bankman-Fried might see his 25-year sentence halved

Sam Bankman-Fried, the founder of the failed cryptocurrency exchange FTX, was sentenced to 25 years in federal prison by a Manhattan court on Thursday. This comes after he was convicted of defrauding customers and investors, with Judge Lewis Kaplan highlighting the potential future risks posed by Bankman-Fried.

Technical Analysis

EURJPY Technical Analysis Report 28 March, 2024

EURJPY currency pair under the bearish pressure after the pair reversed down from the major resistance level 164.25, which also stopped the sharp weekly uptrend at the end of last year,

Digital Assets

BlockDAG’s Presale Hits $9.9M, MultiversX & MINA Price Predictions Show Green

Read about BlockDAG’s promising $10 prediction and insights on MultiversX Price Prediction as MINA’s potential unfolds.

Digital Assets

Rockstar Co-Founder and All-star Line Up Join Advisory Board to Take Metacade into Post Beta Orbit

Metacade, the revolutionary Web3 gaming platform, prepares to streak out of beta with a slew of ground-breaking initiatives that will redefine the way blockchain games are developed.

Retail FX

Prop firm The Funded Trader shuts down, claims relaunch in April

Prop trading firm The Funded Trader has ceased all operations, with claims for a relaunch in the near future.

Digital Assets

Ethereum-Based Tokenized Real Estate Platform USP Launches On Republic

How This Californian Startup Is Revolutionizing Real Estate Investment through Ethereum-Based Tokenization.

Digital Assets

Sui Spikes in Weekly DEX Volume, Joins Top 10 of All Blockchains

March DEX volume on Sui stands at over $2.88B – up more than 49% from February – with decentralized exchange Cetus and wholesale liquidity layer DeepBook leading.

<