Authorised electronic money institution in the United Kingdom

About This Company

The Financial Conduct Authority decides whether an acquirer may take control of an authorised electronic money institution under the Electronic Money Regulations 2011. Unauthorised transfers carry criminal penalties under Section 191F. Approval must precede acquisitions crossing 10%, 20%, 30%, and 50% of voting rights, shares, or parent undertaking status. Statutory assessment runs for 60 business days from complete notification acknowledgment under FSMA Section 189, pausable once for up to 30 business days if regulators request further information. A buyer should examine the Financial Services Register by firm name, 6-digit reference number, individual name, or postcode before entering commitments. Entries display the firm's reference number, authorisation status, appointed representatives, trading names, registered address, and any supervisory restrictions. That registry check confirms active scope across issuing electronic money, executing payment transactions, money remittance, issuing payment instruments, acquiring, payment initiation services, and account information services. This domestic authorisation does not passport. Regular upkeep requires paying a GBP 2,000 standard minimum fee under Fee-block A.0, alongside a GBP 2,043 fee for large electronic money institutions under Fee-block G.10 and a variable levy. London supervisors oversee around 35,500 financial services firms under statutory objectives to protect consumers, promote effective competition, and support medium to long-term UK economic growth.