Tuto Money Limited

Limits on what they may do

• Registering trading names

  The Firm must not register any trading names on the Financial Services Register without the FCA’s prior written consent. 2. Within 10 working days of the Effective Date, the Firm must: (i) remove all trading names registered on the Financial Services Register save for Tuto and Tuto Money; (ii) and ensure that any websites, mobile applications and social media pages associated with the removed trading names are removed or inaccessible by consumers or amended so as not to mislead consumers. 3. The Firm must not onboard any Appointed Representatives/Introducer Appointed Representative without the FCA’s prior written consent. 4. Within 10 working days of the Effective Date, the Firm must: (i) ensure that all of the Firm’s financial promotions (including those of its Appointed Representatives and trading names) are compliant with all relevant FCA Handbook rules or are withdrawn as appropriate; and (ii) provide a written report to the FCA detailing the steps taken. 5. The Firm must ensure that, within 10 working days of the Effective Date, a notice setting out the terms and effect of these Requirements in a form to be agreed in advance with the FCA is published in a prominent place on all of its websites, mobile applications and social media pages (including any in the names of the Firm’s Appointed Representatives and its Tuto and Tuto Money registered trading names). 6. Within 10 working days of the Effective Date, the Firm must provide written confirmation to the FCA that it is in compliance with these Requirements

• Assets Restriction

  1. The Firm must not, without the prior written consent of the FCA, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets, and any funds it holds for, or to the order of, its customers (whether in the United Kingdom or elsewhere). 2. For the avoidance of doubt, transfer between the Firm’s banks or securities accounts require the prior written consent of the FCA. 3. The assets restriction does not apply to monetary payments or the disposal of assets made by the Firm in the ordinary course of business. For the avoidance of doubt the following payments shall not be regarded as payments in the ordinary course of business: a) Payments of unusual or significant amounts to the Firm’s controllers, shareholders, directors, officers, employees or any connected persons. b) The making of any capital distribution. c) The making of any gift or loan by the Firm to any party. d) Payments made as part of any financial restructuring or reorganisation of its business (whether share or asset based). 4. The assets restriction does not apply to: a) Transactions giving effect to instructions initiated by customers. b) Payments of funds to the Firms suppliers, or other relevant third parties, in the ordinary course of business and in satisfaction of the Firm’s contractual obligations. c) Usual and proper salary payments made by the Firm.