Eldens Finance Limited

Limits on the record

• Asset requirement and restriction on regulated activities - Part one

  1. The Firm must not, without the prior written consent of the FCA, conduct any regulated activities for which it has a Part 4A permission. 2. The Firm must not, without the prior written consent of the FCA, in any way: a) sell, transfer, assign, dispose of or realise any pledged or non-pledged asset; b) release, transfer or return any pledged or non-pledged asset to any customer or third party in connection with its lending, asset storage or related business activities; c) move or permit the movement of any pledged or non-pledged asset from its current location; d) otherwise deal with or diminish the value of any pledged or non-pledged asset; or e) create, grant, or permit to subsist any charge, lien or other form of security over any pledged or non-pledged asset. 3. For the avoidance of doubt, this restriction applies regardless of whether: a) the Firm considers the underlying agreement to have defaulted or been terminated; or b) the Firm considers it has legal title to the asset. 4. The Firm must not, without the prior written consent of the FCA, in any way dispose of, withdraw, transfer, deal with or diminish the value of any of its own assets and/or funds (whether in the United Kingdom or elsewhere) (the “own assets restriction”). 5. For the avoidance of doubt, the own assets restriction applies to any sale, transfer or disposal of the Firm’s client base in whole or in part. 6. The own assets restriction does not apply to monetary payments or the disposal of assets made by the Firm in the ordinary and proper conduct of business including for the purpose of facilitating an orderly administration process, amounting to no more than £2,500, whether as a single transaction or a series of related or linked transactions. The following payments shall not be regarded as payments in the ordinary course of business: a) Payments of unusual or significant amounts to the Firm’s controllers, shareholders, directors, officers, employees or any connected persons. b) The making of any capital distribution. c) The making of any gift or loan by the Firm to any party. d) Payments made as part of any financial restructuring or reorganisation of its business (whether share or asset based). 7. Paragraphs 4 to 6 constitute an assets requirement within the meaning of section 55P(4)(a) of the Act. 8. The Firm must provide the FCA, with a complete inventory of all pledged and non-pledged assets, by Tuesday 23 June 2026, including: a) Description of the asset; b) Ownership status; c) Associated agreement; d) Original valuation and latest valuation, including dates undertaken; e) Location of the asset; f) Storage access arrangements g) Confirmation of whether the asset is in the Firm’s possession or held by a third party (including details of that third party) h) Confirmation of whether each asset is adequately insured (including details of insurance arrangements). 9. Until notified in writing otherwise by the FCA, the Firm must provide: a) Evidence of Firm’s cash at bank across all accounts (e.g. electronic copy of bank statement), as at 17:00 of Friday of each week to be provided no later than 17:00 on the following Tuesday. The statements must show all transactions that occurred in the seven days prior.

• Asset requirement and restriction on regulated activities - Part two

  10. The Firm must notify the FCA immediately upon becoming aware of: a) Any beach or potential breach of these Requirements; b) Any loss, theft, damage or material change in condition of any asset; c) Any request by any third party to release, move or otherwise deal with any asset. 11. The Firm must provide written confirmation to the FCA that it is in compliance with these Requirements by 12:00 on Friday 19 June 2026 until such time as it is notified in writing by the FCA that it may cease to do so. 12. The Firm must secure and preserve all records and/or information (physical or electronic) relating to pawnbroking loans, pledged and non-pledged agreements, from its systems in their original form, or in a copy proved to be identical to the source material. These must be retained in a form and at a location within the United Kingdom, to be notified to the FCA in writing by Tuesday 23 June 2026, such that they can be provided to the FCA, or to a person named by the FCA, promptly on its request. 13. The Firm must not destroy, alter, or otherwise interfere with any such records. 14. The Authority will publish such information about the Requirements as it considers appropriate, including in the Firm’s entry in the Financial Services Register. 15. The Requirements in this application are to take immediate effect on their acceptance by the FCA and notification of such to the Firm by email. 16. The Requirements will stay in effect until the FCA is satisfied that they can be lifted.