NEBEUS SOLUTIONS LIMITED

Limits on what they may do

• Voluntary Undertaking

  The Firm has agreed with the Authority that it will not without prior written consent of the Authority, on-board any new retail customers or allow new incoming funds from retail customers for the purposes of the issuance of electronic money or providing payment services (as defined under the Electronic Money Regulations 2011)

• Voluntary Undertaking

  With immediate effect, DZING undertakes: a. Not to onboard any new corporate customers; b. To refrain from accepting any new funds from existing corporate customers for the purposes of the issuance of electronic money or providing payment services, except where specifically agreed with the Authority; c. To ensure that all relevant funds are appropriately ringfenced in a designated safeguarding account(s); d. To place in a prominent place on its website and any other communication channels (including, but not limited to, social media) by noon on Monday 8 April 2024 a notice setting out the terms and effects of the Voluntary Undertaking in a form to be agreed in advance with the Authority; e. By noon on Monday 8 April 2024, to notify in writing all its corporate customers of the imposition and effect of the Voluntary Undertaking in a form to be agreed in advance with the Authority; f. To secure and preserve all records and/or information (physical or electronic) relating to electronic money services from its systems in their original form, or in a copy proved to be identical to the source material. These must be retained in a form and at a location within the United Kingdom, to be notified to the Authority in writing by noon on Monday 8 April 2024 such that they can be provided to the Authority, or to a person named by the Authority, promptly on its request; g. To provide the Authority with a list of the Firm’s existing corporate customers at the time of signing the Voluntary Undertaking, followed by weekly updates by 3pm every Friday (except public holidays) specifying the Firm’s number of corporate customers, overall corporate customer balance held (in aggregate) and value of any refunds received by corporate customers; and h. That the Firm’s CEO will provide written confirmation fortnightly to the Authority by 3pm on Fridays (except public holidays) that it is in compliance with this Voluntary Undertaking. The Firm will remain bound by the Voluntary Undertaking until such time as it is notified in writing by the Authority that they cease to apply.