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UK currency-services providers may face action over misleading rates

( July 19, 2017, 15:14 GMT | Official Statement) -- MLex Summary: UK payment services and electronic money providers have been put on notice that they could face penalties for offering misleading currency-exchange and transfer services. The Financial Conduct Authority said it is "actively considering investigations and action" against companies that display the rates that banks use when trading between each other in currency-conversion simulations in order to attract customers. The UK regulator has previously warned companies over this issue.The statement follows....

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