_________________________________________________________________


FINAL NOTICE

_____________________________________________________________________

To:

Eciru and Company Limited

Of:



154 Manor Park Road




Harlesden
London




NW10 4JR








FSA reference number:
525862

Dated:


14 August 2012

ACTION

1.
For the reasons set out in this Final Notice, the Financial Services Authority (the
“FSA”) hereby takes the following action against Eciru and Company Limited
(“Eciru”).

2.
The FSA gave Eciru a Decision Notice on 11 July 2012 (the “Decision Notice”)
which notified Eciru that for the reasons given below and pursuant to Regulation
10(1)(h) of the Payment Services Regulations 2009 (the “PSR”), the FSA had decided
to cancel the registration granted to Eciru as a small payment institution under the
PSR.

3.
Eciru has not referred the matter to the Upper Tribunal (Tax and Chancery Division)
within 28 days of the date on which the Decision Notice was given to him.

4.
Accordingly, the FSA has today cancelled Eciru’s registration.

REASONS FOR ACTION

5.
On the basis of the facts and matters described in its Warning Notice dated 1 June
2012 (the “Warning Notice”), and in the Decision Notice, the FSA has concluded
that:


Eciru and Company Limited 14 August 2012
Final Notice
Page 2

• Eciru has failed to pay fees and levies of £559.60 owed to the FSA, and to
respond adequately to the FSA’s repeated requests that it does so; and

• Eciru has failed to submit the Payment Services Directive Transactions
Returns (the “FSA057 return”), for the period ended 31 December 2011 which
was due to be submitted by 31 January 2012, and to respond adequately to the
FSA’s requests that it does so.

6.
These failings lead the FSA also to conclude that:

• Eciru has failed to comply with rules that require it to pay fees and levies
owed to the FSA;

• Eciru has failed to comply with the requirement that it submits the FSA057
return to the FSA;

• Eciru has failed to demonstrate a readiness and willingness to:

a) comply with its ongoing regulatory obligations; and

b) deal with the FSA in an open and co-operative way;

• it is therefore desirable to cancel Eciru’s registration as a small payment
institution in order to protect the interests of consumers, in accordance with
Regulation 10(1)(h) of the PSR (as applied by Regulation 14).

DECISION MAKER

7.
The decision which gave rise to the obligation to give this Final Notice was made by
the Regulatory Decisions Committee.

IMPORTANT

8.
This Final Notice is given to Eciru in accordance with section 390(1) of the Financial
Services and Markets Act 2000 (the “Act”) (as applied by paragraph 7(b) of Part 1 of
Schedule 5 to the PSR).

PUBLICITY

9.
Sections 391(4), 391(6) and 391(7) of the Act (as applied by paragraph 7(c) of Part 1
of Schedule 5 of the PSR) apply to the publication of information about the matter to
which this Final Notice relates. Under those provisions, the FSA must publish such
information about the matter to which this Final Notice relates as the FSA considers
appropriate. The information may be published in such manner as the FSA considers
appropriate. However, the FSA may not publish information if such publication
would, in the opinion of the FSA, be unfair to Eciru or prejudicial to the interests of
consumers.




Eciru and Company Limited 14 August 2012
Final Notice
Page 3

10.
The FSA intends to publish such information about the matter to which this Final
Notice relates as it considers appropriate.

FSA contact

11.
For more information concerning this matter generally, please contact Stephanie
Prowse (direct line: 020 7066 9404/fax: 020 7066 9405) at the FSA.






……………………………………………………..
John Kirby
FSA Enforcement and Financial Crime Division