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Financial Services and Markets Act 2000
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20Authorised persons acting without permission
This section has no associated Explanatory Notes
(1)If an authorised person carries on a regulated activity in the United Kingdom, or purports to do so, otherwise than in accordance with permission—
(a)given to him by the Authority under Part IV, or
(b)resulting from any other provision of this Act,
he is to be taken to have contravened a requirement imposed on him by the Authority under this Act.
(2)The contravention does not—
(a)make a person guilty of an offence;
(b)make any transaction void or unenforceable; or
(c)(subject to subsection (3)) give rise to any right of action for breach of statutory duty.
(3)In prescribed cases the contravention is actionable at the suit of a person who suffers loss as a result of the contravention, subject to the defences and other incidents applying to actions for breach of statutory duty.
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