Segregated Payments Limited ('Segpay') amended 31/10/2011
Flagged by Gibraltar Financial Services Commission · Gibraltar (GIB)
Official Warnings (1)
The Financial Services Commission has today amended its warning to the public regarding the above-named entities and associated websites.
The original warning followed receipt of a complaint. During the course of its investigations, the FSC noted online references that indicated that SegPay is a trading name used by Segregated Payments Limited, a Gibraltar company, which describe it as an Internet Payment Service Provider (IPSP).
Segregated Payments Limited is not regulated by the FSC, nor licensed under the Financial Services (EEA) (Payment Services) Regulations 2010, to carry on payment services activities in or from within Gibraltar.
The firm has been in communication with the Commission and has advised that it has removed references to Gibraltar, set up a UK company and is applying to the UK FSA to be registered as a small payment institution. In light of this the FSC is updating its warning notice accordingly to reflect this representation.
People are able to verify whether a firm is licensed by the Gibraltar FSC, by checking the "Regulated Entities Search" section on our website at http://www.fsc.gi/fsclists/Search.aspx.
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