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FCA upholds Bazar Money Transfer restrictions; AML/CTF CDD/EDD review findings; UK bond consolidated tape market hours; EU MAR delegated acts on closed periods, manipulation indicators and delayed disclosure

Published on: 08 April 2026

Published by a LexisNexis Financial Services expert
Legal News
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Financial services developments FCA keeps restrictions in place on Bazar Money Transfer Limited

The Financial Conduct Authority (FCA) has issued a second supervisory notice keeping restrictions on Bazar Money Transfer Limited (BMTL) under the Payment Services Regulations 2017 (PSRs), finding the firm no longer satisfies criteria for registration as a small payment institution and presents risks to consumers. According to the FCA, its first supervisory notice in November 2025 arose because the firm appeared to have been operating an unregistered cryptoasset business, contrary to Regulation 56 of the Money Laundering, Terrorist Financing and Transfer of Funds Regulations 2017 (MLRs) and Regulation 14 of the PSRs; failed to act in an open and co‑operative manner with the regulator as required by Principle 11 of the FCA’s Principles for Business; and supplied information that seemed inaccurate or misleading. The latest notice records that the FCA has removed the firm’s money remittance permission and set requirements prohibiting it from providing regulated payment services, obliging the repayment of customer liabilities, and requiring customer notifications and ongoing reporting...

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