Finance
UK's FCA blocks sendsii from operating after tax authority suspension
Published by Global Banking & Finance Review®
Posted on March 11, 2026
1 min readLast updated: March 11, 2026
Quick Summary
The UK's Financial Conduct Authority has barred Sendsii Ltd from all regulated activities after HMRC suspended its tax registration on October 9, 2025. Sendsii must return all client funds and cannot resume services without express written approval from the FCA.
FCA Blocks Sendsii from Regulated Activity after Tax Suspension
FCA Action Against Sendsii Ltd
Regulator's Announcement
March 11 (Reuters) - Britain's Financial Conduct Authority on Wednesday said it has blocked payment services firm Sendsii Ltd from carrying out any regulated activity after the company lost its tax authority registration.
Requirements Imposed on Sendsii
Sendsii must return all funds held for customers and cannot conduct any regulated activity without the regulator's prior written consent, the FCA said.
Reporting and Editorial Credits
(Reporting by Raechel Thankam Job in Bengaluru; Editing by Vijay Kishore)
Key Takeaways
- •Sendsii lost its HMRC registration on October 9, 2025, invalidating conditions for FCA authorisation under the Payment Services Regulations 2017; FCA issued a First Supervisory Notice on March 11, 2026. (fca.org.uk)
- •As a result, the firm must return all safeguarded customer funds and is prohibited from conducting regulated activities—including money remittance—without prior FCA consent. (fca.org.uk)
- •The Financial Services Compensation Scheme (FSCS) does not cover payment services, but safeguarding rules under the Payment Services Regulations 2017 require customer money to be held separately and returned in such enforcement events. (fca.org.uk)
References
Frequently Asked Questions about UK's FCA blocks Sendsii from operating after tax authority suspension
1Why did the FCA block Sendsii from operating?
The FCA blocked Sendsii after the firm lost its registration with the tax authority.
2What must Sendsii do after the FCA's decision?
Sendsii must return all funds held for customers and cannot carry out regulated activity.
3Can Sendsii conduct regulated activities in the future?
Sendsii is not allowed to conduct regulated activities without prior written consent from the FCA.
4Who reported the FCA's action against Sendsii?
The report was written by Raechel Thankam Job in Bengaluru and edited by Vijay Kishore.
