Euro Exchange Securities UK Limited (“the Firm”) – Imposition of Restrictions by the Financial Conduct Authority (“the Authority”)

The Firm is currently unable to trade. For the avoidance of doubt, the Firm is unable to onboard any new customers and is not accepting any new funds. Customers are also unable to withdraw funds at this time. Updates to what is happening and why will be provided on the Euro Exchange Securities UK Limited website as soon as they are available

On 2 June 2026 the Authority issued a First Supervisory Notice to the Firm which varied the authorisation granted to it pursuant to Part 2 of the Electronic Money Regulations 2011 (the “EMRs”) by imposing, pursuant to regulation 11(1) of the EMRs, the following requirements (the “Requirements”) on the Firm with immediate effect:

Restriction on Business Activities

1. The Firm must not, without the prior written consent of the Authority, carry out any electronic money services for which it is authorised by the Authority pursuant to Part 2 of the EMRs or conduct any payment services as defined under regulation 2(1) of the Payment Services Regulations 2017 (“the PSRs”). For the avoidance of doubt, this includes not onboarding any new customers and not accepting any new funds from existing customers.

Assets requirement

1. The Firm must not return, transfer, or otherwise deal with any funds that have been received in exchange for electronic money that has been issued (“Relevant Funds” as defined in Regulation 20 of the EMRs) without the prior written consent of the Authority
2. The Firm must appoint an independent and suitably qualified third party, to be agreed in advance with the Authority, to oversee the return of Relevant Funds to the Firm’s clients
3. In respect of Requirement 2, a client may redeem their own funds upon their request to the Firm where the customer due diligence and, where applicable, enhanced due diligence on the client file has been remediated to the satisfaction of the independent third party (appointed in accordance with Requirement 3 above) so that the evidence contained in the client file is sufficient to enable the Firm to comply with its obligations under the relevant legislation, including the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 and the Proceeds of Crime Act 2002 in respect of the client
4. The Firm must ensure that all Relevant Funds are appropriately ringfenced in a designated safeguarding account, in accordance with regulations 20, 21 and 22 of the EMRs. For avoidance of doubt, if this requires a transfer between accounts, this must only be done with the prior written consent of the Authority.

Link to the Authority’s website

The full terms of the Authority’s requirements can be viewed using this link:

Euro Exchange Securities UK Ltd

All customers should remain alert to the possibility of fraud. If you are cold called by someone claiming to be from the Authority or the Firm, please end the call and call them back using an independetly verified number. More information about this can be found on the Authority’s website at:

https://www.fca.org.uk/consumers/protect-yourself-scams

Euro Exchange Securities UK Limited (“the Firm”) - Appointment of Joint Managers

Duncan Perring and James Bennett were appointed Joint Managers of the Firm under the UK Payment and Electronic Money Institution Insolvency Regulations 2021 by order of the High Court of Justice of England and Wales (the “Order”) on 4 June 2026 following an application by the UK Financial Conduct Authority.

In accordance with the Order, the Joint Managers have been appointed to manage the affairs, business and property of the Firm. As a result of our appointment, the management powers of the existing officers, directors and members of the Firm no longer apply.

The Joint Managers act as agents of the Firm and contract without personal liability. In performing their work in relation to this appointment, the Joint Managers are bound by the Insolvency Code of Ethics and regulated by the Institute of Chartered Accountants in England & Wales

Creditors and suppliers may contact: EESUKCreditors@teneo.com for further information

Customers may contact: EESUKCustomers@teneo.com for further information