The UK Financial Conduct Authority (FCA) today announced the cancellation of RVB Currency UK Ltd’s authorisation as an Authorised Payment Institution under the Payment Services Regulations 2017 (PSRs).

The cancellation takes effect from June 15, 2026.

The firm is no longer meeting the conditions for authorisation as an API under the PSRs.

In particular, the firm has failed to comply with a requirement of The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (“the MLRs”) to be included in a register maintained under the MLRs.

The firm has also failed to submit the FSA056 returns for the periods 1 June 2023 to 31 May 2024 and 1 June 2024 to 31 May 2025.

Furthermore, the firm failed to deal with the Authority in an open and cooperative way.

In particular, the firm failed to respond to numerous communications from the Authority to take relevant steps to mitigate any risk to consumers caused by the lapse of the firm’s registration with HMRC, and, failed to respond to numerous requests to submit the Returns.

The cancellation action has been imposed in order to advance the Authority’s consumer protection and integrity objectives.