SENDSII LTD

Limits on what they may do

• Cease Regulated Activity

  1. The Firm must not, without the prior written consent of the Authority, carry out any payment services for which it is authorised by the Authority pursuant to Part 2 PSRs. Those payment services are money remittance, as defined in the PSRs.

• Restriction on Onboarding New Customers

  2. The Firm must not onboard or register any new customers or agents or accept any new customer funds or account credits.

• Customer Notification

  3. The Firm must, as soon as is practicable, and in any event no later than 23 February 2026, return all funds held for or on behalf of existing customers in accordance with all relevant legal and regulatory requirements. 4. The Firm must by 12pm on 30 January 2026 notify in writing all customers, agents, banking partners, payment services providers, and any relevant person of the imposition and effect of these Requirements. The wording of this communication and the method of delivery must be agreed in advance with the Authority. 5. Within 72 hours of the notification at Requirements 4 being made, the Firm must provide the Authority with: a. a list of all the Firm’s agents; b. a list of all bank, payment, crypto and e-Money accounts utilised by the Firm, and details of the account provider, name of account holder, account name, sort code and/or account number, purpose of the account (e.g. operation or safeguarding), and current balance; c. copies of the template notification sent to all recipients; d. confirmation that, to the best of its knowledge, the Firm has sent notifications pursuant to Requirements 4.

• Notification Requirements

  6. The Firm must send to the Authority via email by 5pm every Friday, beginning on 30 January 2026 (unless that day is a Bank Holiday, in which case by 5pm on the next business day) until such time as it is notified otherwise in writing by the Authority: a. up-to-date bank statements for all the Firm’s bank, payments or electronic money accounts; b. written confirmation to the Authority that it is not providing payment services and remains in compliance with these Requirements.

• Records Retention

  7. The Firm must secure and preserve all records and/or information (physical or electronic) relating to payment 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 30 January 2026, such that they can be provided to the Authority, or to a person named by the Authority, promptly on its request.