Part 8Investigations
Chapter 2England and Wales and Northern Ireland
Customer information orders
366 Offences
(1)
A financial institution commits an offence if without reasonable excuse it fails to comply with a requirement imposed on it under a customer information order.
(2)
A financial institution guilty of an offence under subsection (1) is liable on summary conviction to a fine not exceeding level 5 on the standard scale.
(3)
A financial institution commits an offence if, in purported compliance with a customer information order, it—
(a)
makes a statement which it knows to be false or misleading in a material particular, or
(b)
recklessly makes a statement which is false or misleading in a material particular.
(4)
A financial institution guilty of an offence under subsection (3) is liable—
(a)
on summary conviction, to a fine not exceeding the statutory maximum, or
(b)
on conviction on indictment, to a fine.