FCA halts Euro Exchange Securities operations, appoints managers
The Financial Conduct Authority (FCA) has required Euro Exchange Securities UK Limited (EES) to cease all regulated electronic money and payment services. On June 4, 2026, the Court appointed interim managers over EES due to significant financial crime risks.
Systemic financial crime weaknesses
The Financial Conduct Authority (FCA) identified serious concerns about Euro Exchange Securities UK Limited's (EES) operations, indicating significant financial crime risks.
The firm exhibited systemic weaknesses in its financial crime framework and safeguarding arrangements.
Concerns also extended to its ownership and governance.
The FCA determined these risks could impact consumers and market integrity, leading to the immediate regulatory action.
Interim managers and court hearing
Duncan Perring and James Bennett of Teneo Financial Advisory Limited were appointed by the Court as interim managers for EES.
This action, under the Payment and Electronic Money Institution Insolvency Regulations 2021, requires them to temporarily oversee EES's affairs.
EES will have a court hearing on June 11, 2026.
The Court will then decide whether to lift the current order or place the firm into special administration.