This is a mobile optimized page that loads fast, if you want to load the real page, click this text.

EML - EML Payments

Jump to new
is that a 40% drop for EML ?

EML told shareholders the Irish central bank is considering issuing directions over the firm’s Irish unit.
Click to expand...

that's a bit like the bank manager saying your balance is outstanding!

EML advises that its Irish regulated subsidiary, PFS Card Services (Ireland) Limited, has received correspondence from the Central Bank of Ireland, including a letter received on Friday 14 May 2021 (Australian time) raising significant regulatory concerns (‘Correspondence’). The CBI is the relevant regulator in Ireland.

The CBI’s concerns relate to PCSIL’s Anti-Money Laundering / Counter Terrorism Financing, risk and control frameworks and governance. The Correspondence states that the CBI is minded to issue directions to PCSIL pursuant to section 45 of the Central Bank (Supervision and Enforcement) Act 2013.
 
The big red flag for me is the large selling down by directors, presumably a lot of it after they knew about the regulatory concerns.

I suspect there is more to be revealed if ASIC & the ASX have the appetite to investigate.
 
a bit of drilling down by Clavdivs

EML Payments (ASX: EML) Share Price Plunges On Central Bank Of Ireland Investigation

The EML Payments (ASX:EML) share price is down around 34% on regulatory concerns that could undermine its reputation globally.
arichlife.com.au

... In the worst case scenario, their PFS business is done and dusted, and this action will force regulators in Australia and the USA to take a close look at the company’s operations.
Click to expand...
and a bit on EML re-iterating guidance "excluding costs and impacts" which basically says the metrics are fanciful/ stuffed
 
This money laundering issue, is obviously being addressed at a global level IMO, when you consider the amount of action Austrac has being involved in recently.
I wonder if it isn't the forerunner to more integration of international money systems?
I read NAB has also been queried by Austrac, I wonder if all this is interconnected? Or just coincidental.

NAB faces attention of AUSTRAC enforcement team

"Serious concerns" with compliance obligations.
www.itnews.com.au
 
Thanks mate. Why not people donate their money than sending to laundry and get caught. There are millions of people starving.
By doing that they also keep our investment safer, saves lives and get jail free cards.
 
Miner said:
Thanks mate. Why not people donate their money than sending to laundry and get caught. There are millions of people starving.
By doing that they also keep our investment safer, saves lives and get jail free cards.
Click to expand...
I'm not sure, but it certainly is making investing in the financial sector problematic, WBC, CBA, now NAB.
Now EML sound as though the Irish equivalent is breathing down their necks, it is getting harder and harder to find a sector that doesn't blow up, every few years.
 
Hmm!
you and many others are better informed than me on EML. Thanks.
Looks like EML has many more bad days and I was one eyed deer.

EML shares crash on Irish central bank regulatory concerns

The Central Bank of Ireland is investigating the ASX payments darling over ‘significant regulatory concerns’ that the company says it is taking ‘very seriously’.
www.afr.com
 
So it took a dive on the 19th and Comm Bank bought on 20th ?
Am I reading this correctly ? If so is there a bit of a conspiracy (and I'm not a theorist )

 
Not at all Miner, I was only commenting on the article Dona posted, I haven't looked into EML at all. It just seems there is a lot of regulatory activity going on in the financial services industry of late. Which I have exposure to and therefore am affected by.
Interesting the comment Boggo made, about CBA buying in, maybe a positive sign.
 
Central Bank of Ireland has provided material effect again since 19th May for sure.
So would this lead to what level





 
Not looking good for EML. Regulatory issues are among the worst issues a company can have. A lot of confidence has been lost as a result.

These are not the kind of words the market wants to hear:

EML considers that the directions could materially impact the European operations of the Prepaid Financial Services business.
Click to expand...
 
greggles said:
Not looking good for EML. Regulatory issues are among the worst issues a company can have. A lot of confidence has been lost as a result.

These are not the kind of words the market wants to hear:
Click to expand...
So true @greggles .
What frustrates me when company CEOs try to diffuse such serious matters as business usual with the useless thoughts that market is idiot to get mellowed their down play and rather hit harder than the actual impact of the incidences.
 
galumay said:
The big red flag for me is the large selling down by directors, presumably a lot of it after they knew about the regulatory concerns.

I suspect there is more to be revealed if ASIC & the ASX have the appetite to investigate.
Click to expand...

Given what has transpired with EML I am flabbergasted that the ASX lets it continue trading, it should certainly be in a trading halt given the uncertainty surrounding the viability of the business. ASIC & ASX are the most useless toothless tigers, over and over again retail shareholders are defrauded by these sort of businesses while they twiddle their thumbs.
 
From the inactive behavior of ASX whose independence is questionable being a commercial and listed entity and lame duck ASIC I will not be surprised to learn in few years that both organizations have had mole from some of the con companies.
 
EML is currently trading around 12.2% higher on reports of Bain Capital potentially being interested a takeover of EML Payments.

Shares are testing $3 at the moment, which seems to have become somewhat of a resistance level coming from the previous cycle highs a couple of weeks ago.

All trading carries risk, but it will be interesting to see if EML can break higher, or if a mix of profit-taking and traders looking to break-even around this level limit the upside.
 
EML has made surprise downgrades to revenue and earnings and cut its net profit forecast by 7 per cent.

The Update pointed to elevated costs and lower-than-expected new customer revenue. Regulators last year put the brakes on its European business, where it earns 60 per cent of revenue.

down 37% to $1.68. Hasn't been that low since 2019
 
bought this as AAO and eventually sold out at $1.69 in May 2017

haven't i missed out on some excitement here

almost makes me regret not hanging onto the last parcel 'free-carried '
 
 
You must log in or register to reply here.

Similar threads

September 2024 DDD
2 3 4
Replies
66
Views
10K
qldfrog
2025 Full Year Stock Tipping Competiton
7 8 9
Replies
177
Views
12K
mullokintyre
  • Locked
  • Sticky
February 2025 Stock Tipping Competition Entry Thread!
2 3
Replies
44
Views
3K
farmerge
  • Locked
January 2025 Stock Tipping Competition Entry Thread!
2 3 4
Replies
63
Views
4K
Joe Blow
January 2025 DDD
5 6 7
Replies
126
Views
8K
ducati916
Menu
Log in
Register
Cookies are required to use this site. You must accept them to continue using the site. Learn more...