Laura WilesThe FCA has issued final notices cancelling iCorp Global Limited and Omdoom General Trading‘s registrations as small payments institutions (SPIs).
iCorp Global had failed to notify the FCA of significant changes to circumstances relevant to its registration, including: the appointment of a director and their subsequent arrest and investigation; a change to the firm’s principal place of business; and repeated failure to submit annual regulatory returns.
Omdoom no longer met the conditions for registration as an SPI under the PSRs, because it was not registered with HMRC under the MLRs due to its money remittance activities. It had also failed to submit its annual regulatory returns since registration in 2020.