Trading in shares of EML Payments has been halted in Sydney after the Central Bank here raised concerns in relation to the Australian company’s Irish subsidiary Prepaid Financial Services (PFS). The Central Bank of Ireland notified EML of ‘significant regulatory concerns’ on May 14, the Australian company said in a notice to the market. EML did not say what the Central Bank’s concerns relate to, but said the shares are expected to remain suspended until after a more detailed announcement is made to the market. The UK regulator is investigating whether the companies infringed competition law by agreeing not to compete for each other’s clients. It has already followed up last year’s acquisition of PFS with a deal announced last month for another Irish financial technology business, Sentenial.

Source: Irish Independent May 17, 2021 19:30 UTC