Small electronic money institution in the United Kingdom

About This Company

Registered small electronic money institutions hold domestic permissions. The statutory foundation rests on the Electronic Money Regulations 2011, which took effect on 2011-04-30. Under this framework, registered entities may issue electronic money, execute payment transactions, handle money remittance, issue payment instruments, acquire payment transactions, and provide payment initiation and account information services. This registration does not passport overseas. Any transaction that shifts control requires formal regulatory consent beforehand. Acquirers crossing thresholds of 10%, 20%, 30%, and 50% of voting rights without FCA approval commit a criminal offence under FSMA 2000 Section 191F. Assessment spans 60 business days from complete acknowledgment under FSMA Section 189, pausable once for up to 30 business days if regulators request extra information. Regulatory maintenance involves an annual GBP 1,418 extra fee under Fee-block G.11, following an initial registration fee of GBP 1,130 under Pricing Category 3. Inquiries on the Financial Services Register confirm the entity's 6-digit reference number, trading names, registered address, appointed representatives, and supervisory restrictions. London supervisors oversee approximately 34,000 solo-regulated businesses under statutory objectives to protect consumers, preserve UK financial integrity, and support medium to long-term UK economic growth.