Trading in EML Payments shares remained suspended in Sydney on Tuesday pending more details about a probe by the Irish Central Bank into Irish subsidiary Prepaid Financial Services (PFS). EML is listed on the Australian Stock Exchange (ASX), and is subject to the Corporations Act, ASX Listing Rules and related laws. The UK regulator said in March that it had provisionally found the Irish company and four rivals including Mastercard engaged in anti-competitive behaviour in relation to the supply of prepaid cards used by local authorities to distribute welfare payments. The UK regulator is investigating whether the companies infringed competition law by agreeing not to compete for each other’s clients. It is not clear there is a link between the UK situation and the Irish regulator’s concerns.

Source: Irish Independent May 19, 2021 01:30 UTC