UK Regulator FCA Informed That Payment Institution Monneo Was Put Under Special Administration

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On 30 May 2023, the UK Court made a special administration order concerning Monneo Ltd under the Payment and Electronic Money Institution Insolvency Regulations 2021. Daniel Conway, David Hudson, and Paul Allen of FRP Advisory have been appointed joint special administrators (JSAs). Monneo is an FCA-authorized payments institution and was founded in 2016. The Directors of the firm applied to court as they concluded that the firm was insolvent.

Monneo’s JSAs are responsible for managing claims against the firm and returning funds to customers where possible. Customers should receive more information from them, including details on how to make a claim, within 8 weeks of the appointment.

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