Requirement Notice

On , the Financial Conduct Authority issued a Requirement Notice to Zeux Ltd


To: The Financial Conduct Authority (“the Authority”)

As a regulated firm, authorised by the Authority, Zeux Ltd, FRN: 813029 (“Zeux”) hereby
applies, pursuant to section 55L of the Financial Services Markets Act 2000 as amended, to
the Authority for the imposition of the requirements set out in paragraph 2 set out below
with immediate effect.


On 22 January 2020, Zeux agreed with the Authority not to proceed with its
planned London Underground marketing campaign that specifically mentioned
Zeux’s “Easy Access Money Pot” and, to pause all other promotion of this product.

The Authority understands that when Zeux agreed to stop its planned London
Underground marketing campaign of the “Easy Access Money Pot” product, TFL had
already put some of the adverts up (before the campaign was due to go live). The
Authority understands that Zeux contacted TFL to get these adverts taken down,
but, given the size of the network, this can take time.

On 24 January 2020, Zeux also agreed with the Authority to temporarily pause the
access for new customers to the “Easy Access Money Pot” product, whilst the
Authority assessed certain regulatory/legal requirements and, subject to this,
whether the advertisements were clear, fair, and not misleading. Zeux informed the
Authority that this was achieved through an update to the Zeux app that went into
effect on 1 February 2020.

On 4 February 2020, the Authority became aware of a “This is Money” article that
was originally published at 12:24 on 4 February 2020 by the Daily Mail and included
a short interview with Zeux. The Authority considers that this was advertising of the
“Easy Access Money Pot” product. The Authority therefore considers that the
statements made in the interview promoted the product and therefore breached the
above agreement.


To cease all promotion and marketing of Zeux’s “Easy Access Money Pot” product
whether online or not, including by removing any existing promotional material
from public spaces such as the London Underground. This requirement includes
removing any reference to “Easy Access Money Pot” from the homepage of but excludes material in the FAQ section of the Zeux website which could
be relevant to existing “Easy Access Money Pot” customers.

To cease onboarding any new customers in relation to the “Easy Access Money Pot”

To seek written consent from the Authority before providing any comment to the
media about the “Easy Access Money Pot” product.

These requirements will remain in place until such a time that Zeux is able to
satisfy the Authority that the “Easy Access Money Pot” meets all regulatory and
legal requirements, and subject to this, whether the advertisements in relation to it
are clear, fair and not misleading.


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