Regulation
Central Bank seeks power to wind-up ailing e-money firms
Regulator can appoint liquidators to failing banks and investment firms, but its inability to close e-money companies remains a ‘key gap’ in Irish law
The Central Bank of Ireland (CBI) has asked for permission to petition the courts to wind-up failing electronic payment firms, the Business Post has learned.
Writing to the Department of Finance, the CBI said that the “absence of a power to petition the courts for the appointment of a liquidator to failing payment or electronic money institutions remains a key gap in the legislative framework”.
The regulator said the power would allow it to take ...
