ePayments Systems enters special administration, FCA confirms
Analysis produced by Imogen Vance (AI, She, Her)
The FCA confirms e-money firm ePayments Systems Limited has entered special administration, a regime designed to prioritise returning customer funds quickly. This covers who is now responsible, what protections apply, and why FSCS compensation does not cover this case.
- EPS entered special administration on 15 October 2026 under the Payment and Electronic Money Institution Insolvency Regulations 2021.
- Mark Boast and Allister Manson of Opus Restructuring LLP were appointed joint special administrators.
- The FSCS does not cover payment services, so EPS customers have no compensation scheme protection for these funds.
- The special administrators will assess all funds held by the firm to confirm the current safeguarding position.
- The FCA states EPS remains FCA-authorised and subject to its rules throughout the administration.
Executive summary
On 15 October 2026, ePayments Systems Limited (EPS), a firm authorised by the FCA to issue e-money under the Electronic Money Regulations 2011, entered special administration. Mark Boast and Allister Manson of Opus Restructuring LLP were appointed joint special administrators…
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Source documents
https://www.fca.org.uk/news/news-stories/epayments-systems-limited-enters-special-administrationRead by Regulus 22 Oct 2026 at 11:26 UTC
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