The UK's financial watchdog has allowed one of Wirecard's key businesses to resume operations after it froze all accounts last week
to resume regulated activities, days after it ordered the business to cease all operations following the insolvency of its German-based parent company.
On Friday, the watchdog ordered Wirecard Card Solutions Limited to halt all regulated activities and prohibited the firm from offloading any assets or funds, with immediate effect after its parent company filed forThe FCA said in a statement:"The primary objective of these requirements was to protect the electronic money funds of consumers in safeguarded accounts. It also had the effect of preventing consumers from withdrawing and making payments with those funds.
The move paves the way for thousands of customers who had previously been locked out of their accounts to access their cash again.over the weekend that parent company Wirecard is also continuing its business activities despite filing for insolvency.
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