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Financial Services and Markets Act 2000

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Miscellaneous offencesU.K.

F1397 Misleading statements and practices.U.K.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Textual Amendments

398 Misleading [F2FCA or PRA]: residual cases.U.K.

(1)A person who, in purported compliance with any requirement [F3falling within subsection (1A)] knowingly or recklessly gives [F4a regulator] information which is false or misleading in a material particular is guilty of an offence.

[F5(1A)A requirement falls within this subsection if it is imposed by or under—

(a)this Act;

(b)the Alternative Investment Fund Managers Regulations 2013;

(c)the short selling regulation;

(d)Regulation (EU) No 345/2013 of the European Parliament and the Council of 17 April 2013 on European venture capital funds; F6...

(e)Regulation (EU) No 346/2013 of the European Parliament and the Council of 17 April 2013 on European social entrepreneurship funds.] [F7; or]

[F8(f)Regulation (EU) No 2015/760 of the European Parliament and of the Council of 29th April 2015 on European Long-term Investment Funds.]

(2)Subsection (1) applies only to a requirement in relation to which no other provision of this Act creates an offence in connection with the giving of information.

(3)A person guilty of an offence under this section is liable—

(a)on summary conviction, to a fine not exceeding the statutory maximum;

(b)on conviction on indictment, to a fine.

Textual Amendments

F2Words in s. 398 heading substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 36(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

F4Words in s. 398(1) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 9 para. 36(2) (with Sch. 20); S.I. 2013/423, art. 3, Sch.

Modifications etc. (not altering text)

C1S. 398 extended (1.12.2001) by S.I. 2001/3646, arts. 1(2), 3(3)(b)(4)

S. 398 excluded (1.12.2001) by S.I. 2001/3646, arts. 1(2), 2(6)

C2S. 398 modified (18.7.2002 for certain purposes and 21.8.2002 otherwise) by The Electronic Commerce Directive (Financial Services and Markets) Regulations 2002 (S.I. 2002/1775), regs. 1, 12(2)

C3S. 398 applied (with modifications) (7.6.2010) by The Credit Rating Agencies Regulations 2010 (S.I. 2010/906), reg. 25

C6S. 398 modified (20.4.2015 for specified purposes, 21.12.2015 for specified purposes) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), arts. 1(5), 23(1)(e) (with Pt. 4)

C7S. 398(1)(3) applied (1.12.2001) by S.I. 1995/1537, reg. 23(5) (as amended (1.12.2001) by S.I. 2001/3649, arts. 1, 509(f))

399 Misleading [F9the CMA].U.K.

Section 44 of the M1Competition Act 1998 (offences connected with the provision of false or misleading information) applies in relation to any function of [F10the Competition and Markets Authority] under this Act as if it were a function under Part I of that Act.

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