EML Payments shed almost a third of its market value after the company’s strategic review failed to convince investors its regulatory woes in Ireland were behind it.
The payments company has been in the sights of the Central Bank of Ireland due to anti-money laundering compliance issues, and Wednesday’s update revealed its remediation efforts had been unable to satisfy the regulator.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
