United Kingdom · Question · Written question
UIN 102780
Financial Institutions: Payments
Original
Introduced
13 October 2020
Last action
21 October 2020 · Answer
Status
Answered
Sponsors
—
Subjects
Discovery layer
Source updated
21 October 2020
Summary
To ask the Chancellor of the Exchequer, what steps his Department has taken to help protect UK-based challenger banks and other financial institutions from the potential future collapse of a payment processor company.
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Timeline
13 October 2020
Written question
To ask the Chancellor of the Exchequer, what steps his Department has taken to help protect UK-based challenger banks and other financial institutions from the potential future collapse of a payment processor company.
Source: Commons
21 October 2020
Answer
The German merchant acquirer Wirecard AG entered administration in June. It has a UK subsidiary, Wirecard UK, which is authorised and regulated by the Financial Conduct Authority (FCA). The FCA ensures that payments firms make suitable safeguarding arrang...
Source: Written answer
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- · Treasury · Answering body
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Sources
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- Official source: https://questions-statements.parliament.uk/written-questions/detail/2020-10-13/102780
- Open data entity: https://questions-statements-api.parliament.uk/api/writtenquestions/questions/1243092
- uk · wq-1243092 · source updated 21 October 2020