FINAL NOTICE DATED 6 January 2011

AVISTA WIRE AND CLEARING LIMITED

SUMMARY OF THE MATTER TO WHICH THE NOTICE RELATES

We have refused an application (the application) made by Avista Wire and Clearing Limited
(Avista) under Regulation 5 of the Payment Services Regulations 2009 (PSRs) for
authorisation as an authorised payment institution and to provide the payment service of
money remittance.

The application was received by the FSA on 7 October 2009 and further information was
requested from Avista, on 13 November 2009, in order to assist the FSA in its assessment of
the application. However, to date, no response has been received and Avista remains
uncontactable.

By our Decision Notice dated 3 November 2010 (the Decision Notice), we gave Avista notice
that we had decided to refuse the application, as we could not ensure that Avista satisfies and
will continue to satisfy the ‘Conditions for authorisation as a payment institution’ set out in
Regulation 6 of the PSRs.

Avista did not refer the matter to the independent Upper Tribunal (formerly known as the
Financial Services and Markets Tribunal) within the prescribed time limits.