Regulatory Authorisation on Payment Services

RNS Number : 7211D

Baydonhill PLC

28 March 2011

 



28 March 2011

Baydonhill PLC

("Baydonhill" or the "Company")

Regulatory Authorisation on Payment Services

Baydonhill (AIM: BHL), one of the UK's leading foreign exchange specialists, announces that, as of 23rd March 2011, Baydonhill PLC has been authorised by the Financial Services Authority ("FSA") as an 'Authorised Payments Institution'. Under the 'Payment Services Regulations 2009' the company is authorised to carry out Payment Services under the firm reference number 535939.

The 'Payment Services Regulations 2009' brings the regulation of Payment Services companies under the FSA and provide Arbitration through the Financial Ombudsman service as well as allowing transparency over transaction fee's in the EU and ensures all Payment Institutions offer segregated Client Accounts and meet Ongoing Capital Adequacy Requirements. Baydonhill has operated segregated client accounts since 2006.

As a leading provider of international foreign exchange Baydonhill PLC welcomes these regulations. They will drive higher standards in the industry.

For further information please contact:

Baydonhill PLC
Eric Peacock, Chairman Wayne Mitchell, Chief Executive	[phone]
Merchant Securities Limited
Bidhi Bhoma / Simon Clements	[phone]
Square1 Consulting Limited
David Bick / Mark Longson	[phone]

 

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