Authorised EMI in the United Kingdom, operating at breakeven

About This Company

Electronic Money Regulations 2011 (SI 2011/99), in force from 2011-04-30, form the statutory basis for this authorised electronic money institution. From London, the Financial Conduct Authority regulates conduct across roughly 35,500 financial services firms and markets, serving also as prudential supervisor for approximately 34,000 solo-regulated firms. Statutory objectives under FSMA 2000 direct the regulator to protect consumers, strengthen financial system integrity, promote effective competition, and support medium to long-term UK economic growth. Before signing, the buyer searches the public Financial Services Register using the firm name, reference number (FRN), individual name (IRN), or postcode. That public entry confirms Authorised status, approved permissions, appointed representatives, registered trading names, official address, and any supervisory restrictions. Confirmed permissions can cover issuing electronic money, execution of payment transactions, money remittance, issuing payment instruments, acquiring payment transactions, payment initiation, and account information services. This authorisation is domestic. Operational facts describe a business operating for over a year to business clients only, reporting 2,000+ clients, about 500 active, monthly turnover of 50M, revenue of about GBP 75,000 a month, breakeven trading, a 36-currency setup with FPS, SEPA and SWIFT, 20 staff, and an in-progress Mastercard issuing principal membership application. Acquirers must secure FCA approval before acquiring control, because proceeding without approval is a criminal offence under FSMA 2000 Section 191F.