Information on UK e-money institution (EMI) licence applications

Reference Case Number: FOI11185

Freedom of Information: Right to know request:

Please provide:

A table showing how many UK E-Money Institution (EMI) licence applications the FCA received, rejected/refused, approved and were withdrawn (as separate categories) each financial year from 2013/14 to 2023/24. I would like this data in Excel format.
An additional table showing how many UK EMI licences the FCA suspended and (separately) revoked in each financial year.
1. instances where authorisation under The Electronic Money Regulations 2011 has been cancelled as a result of regulatory action.
2. instances where authorisation under The Electronic Money Regulations 2011 has been cancelled at the request of the firms.
3. instances where authorisation under The Electronic Money Regulations 2011 have been suspended.
4. instances where restrictions or limitations have been imposed in relation to an authorisation under The Electronic Money Regulations 2011
How many institutions currently hold a UK EMI licence from the FCA.

FCA response:

Question 1

We do not hold data for the 2013/14 financial year. Subject to this, please find the requested information in the attached document (Annex A).

Question 2a

In the relevant period, 13 firms have had their authorisation/registration revoked.

Question 2b

Number of voluntary AEMI cancellations

2013/14 – 0
2014/15 – 0
2015/16 – 0
2016/17 – 1
2017/18 – 0
2018/19 – 2
2019/20 – 1
2020/21 – 4
2021/22 – 6
2022/23 – 13
2023/24 – 4

Total – 31

Number of voluntary SEMI cancellations*

2013/14 – 0
2014/15 – 0
2015/16 – 0
2016/17 – 0
2017/18 – 0
2018/19 – 1
2019/20 – 4
2020/21 – 1
2021/22 – 5
2022/23 – 5
2023/24 – 2

Total – 18

*Please note that the cancellation of an AEMI would be cancellation of its authorisation whereas cancellation of a SEMI would be cancellation of its registration.

Question 2c

Our Enforcement division have not exercised the power to suspend under regulation 52 of The Electronic Money Regulations 2011.

Question 2d

Financial Year	Number of requirements placed on firms authorised under the EMRs
12/13	3
13/14	0
14/15	1
15/16	0
16/17	5
17/18	140
18/19	31
19/20	64
20/21	57
21/22	36
22/23	28
23/24	51
24/25 (as at 22/04)	2
Total	418

Please note that the above data includes some instances where more than one requirement has been placed on the same firm.

Please note that this information is available on the FCA Register[1]. However, we can confirm that as at 8 March 2024, there were 236 licenced AEMIs and 27 licenced SEMIs (263 e-money institutions in total).

Supporting document

FOI11185 Annex A[2]

Date of Release: 03/05/2024

Information on UK e-money institution (EMI) licence applications - May 2024