Inpasy Ltd, a new money transfer company, has recently gained FSA Registration as a Payment Institution.
Inpasy will provide money transfer services to individuals and corporate clients using the latest technology to make secure transfers of money from the UK to the EU. Money transfer, also called money remittance, became regulated by the FSA in 2010.
Director, Oksana Bokasa commented : "We are delighted to have received our registration with the FSA under the Payment Services Regulations 2009. We can now offer payment services to our clients in addition to the other core services Inpasy provides. The FSA registration demonstrates our commitment to operate our business to the highest standards. Compliancy Services provided us with support and guidance throughout the process, simplifying an otherwise complex process."
Inpasy Ltd were advised by city consultancy Compliancy Services for the management of their FSA application and on-going FSA Compliance issues. Claire Wilkinson, Partner of Compliancy Services added "We have seen a tightening-up by the regulator in their assessment of applications for new Payment Institutions and their regulation of Payment Institutions who are already licensed. Firms need to be fully aware of the regulator's requirements and their responsibilities if they are to operate their business in compliance with the rules."