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Some payments and e-money institutions will fail due to Covid-19 impact, UK regulator says

By Fiona Maxwell ( August 26, 2021, 15:09 GMT | Insight) -- Parts of the payments sector are at risk of collapse due to poor prudential measures, exacerbated by the impact of the Covid-19 pandemic, an official from the UK's Financial Conduct Authority warned today. More policy might be needed to ensure customer funds are safe in the event of failure, as firms are not always adequately ring-fencing client money.Some electronic money and payment institutions will collapse due to being disproportionately affected by the Covid-19 pandemic, a UK regulator warned today....

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