UK's Financial Conduct Authority Sends Communication Regarding Potentially Misleading Marketing To All Firms Carrying Out Currency Transfer Services

The Financial Conduct Authority (FCA) has today sent an email to all firms carrying out currency transfer services explaining that some firms may be marketing their services in a misleading way. Specific concerns relate to the misleading presentation of the interbank rate, savings claims and use of FCA authorisation status to promote their services. The communication has also been sent to trade bodies representing this market.