The requirement to be appropriately authorised or registered
Issuing e-money and performing a payment service in the UK are both regulated activities which can only be undertaken by firms which are appropriately authorised, registered (as a small provider) or are exempt. This note looks at how a firm can go about becoming appropriately authorised or registered and what Field Fisher Waterhouse LLP can do to assist in that process.
Applying to the FCA to become UK authorised or registered
Since 1 April 2013, the UK has had two financial regulators, but the Financial Conduct Authority ("FCA") will be the competent authority for most E-Money Issuers and Payment Services Providers.
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The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
