Transitional Authority to operate in the UK Granted
Company not impacted by BREXIT
London, 26th February 2019: iSignthis Ltd (ASX: ISX | FRA: TA8) (“The Company”) is pleased to announce that it has made preparations for BREXIT for its 100% owned EEA operating entity, iSignthis eMoney Ltd (the ‘Firm’).
iSignthis eMoney Ltd has notified United Kingdom’s Financial Conduct Authority (FCA) that it wishes to be treated in accordance with the EU Exit Regulations 2018, with the direction made for Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions).
The FCA has confirmed that the Transitional Authorisation is to apply to the Firm. This means that the UK’s temporary permissions regime allows EEA-based firms like ours, currently passporting into the UK, to continue new and existing regulated business within the scope of their current permissions in the UK for a limited period, while they seek full FCA authorisation.
The Regulations provide that Transitional Authorisation will apply for a period beginning at (BR)exit day (11pm on 29 March 2019), unless BREXIT is delayed. Under such circumstances, the Firm’s existing EU freedom to operate and financial passport arrangements will continue until such time (if any) as a BREXIT event occurs.
The Firm will continue to offer Visa, Mastercard, JCB, and eMoney services, including IBAN based accounts post BREXIT.
iSignthis®, ISXPay®, Probanx®, Flykk® & Paydentity™ are registered trademarks of iSignthis Ltd. iSignthis Ltd ABN 93 075 419 715 operating subsidiaries include iSignthis eMoney Ltd HE348009 (CY) , Authenticate BV KvK 62744968 (NL), Authenticate Pty Ltd ABN 49 600 573 233 (AU), Probanx Solutions Ltd (CY) & UAB Baltic Banking Service (LT). iSignthis eMoney Ltd, trading as Flykk and ISXPay, is authorised by the Central Bank of Cyprus # 184.108.40.206 as an E.E.A Monetary Financial Institution. ℗ Patent applications pending/granted in Africa, Australia, Asia, The Americas, Europe and Oceania. WIPO Patent Application Nos: WO2011/120098, WO2016/094954, WO2016/101027, WO2016/187662, WO2018/090099, WO2018/170548