Duncan Perring and James Bennett of Teneo Financial Advisory now oversee the firm’s assets, having already frozen funds and secured substantial internal documentation. The FCA previously ordered the business to cease trading on June 4 after determining that the company’s internal controls failed to mitigate risks associated with illicit financial flows.

The firm, which maintains additional business operations in the United States and Spain, did not contest the regulatory action. In a statement posted to its website, Euro Exchange Securities confirmed it has stopped onboarding new clients and processing transactions, leaving existing customers unable to withdraw funds. Matthew Long, the FCA’s director of payments and digital assets, emphasized that the decision aligns with a broader strategy to preserve the integrity of the UK financial system against exploitation by criminal actors.