The European Central Bank temporarily restricted Revolut’s ability to launch new products in the European Economic Area after identifying deficiencies in the company’s product approval processes.

Revolut was also required to commission an independent review of the risk, compliance and legal functions overseeing new products. Additional restrictions affected customer acquisition and corporate transactions outside the EEA. Revolut said it had strengthened internal controls and remained in constructive dialogue with regulators. It was unclear whether all restrictions had been lifted.

Source: ft.com