Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

FSA Gets New Freeze Order Against Online Bank-Services Firm

Sept. 8 (Bloomberg) -- The Financial Services Authority won a court order extending a freeze on some MonoBank Plc assets, arguing the online bank services company can’t solicit business in the U.K. because it isn’t conducting business properly and may not be authorized in the country.

Judge Guy Newey in London also renewed an order requiring MonoBank to disclose information the FSA is seeking by tomorrow. The extended deadline was suggested by the company, said Ian Smith, a lawyer for the financial regulator.

MonoBank, founded in 2004 and headquartered in London, offers prepaid credit cards and services on the Internet to the “credit challenged” and small-business market in North and South America, Europe and Asia, according to its website. Its shares are listed on in Frankfurt.

The company and its lawyers weren’t in court today. A call to a number listed on the company website wasn’t answered by MonoBank.

The case is: The Financial Services Authority v. MonoBank.

To contact the reporters on this story: Lindsay Fortado in London at lfortado@bloomberg.net.

To contact the editor responsible for this story: Anthony Aarons at aaarons@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.