Version Superseded: 21/03/2016
Point in time view as at 21/12/2015.
Financial Services and Markets Act 2000, Paragraph 21 is up to date with all changes known to be in force on or before 10 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
21(1)If a UK firm which is not an authorised person contravenes the prohibition imposed by—U.K.
(a)sub-paragraph (1) of paragraph 19, or
(b)[F1sub-paragraph (1), (3B)(c) [F2, (4B) or (4BB)]] of paragraph 20,
it is guilty of an offence.
(2)A firm guilty of an offence under sub-paragraph (1) is liable—
(a)on summary conviction, to a fine not exceeding the statutory maximum; or
(b)on conviction on indictment, to a fine.
(3)In proceedings for an offence under sub-paragraph (1), it is a defence for the firm to show that it took all reasonable precautions and exercised all due diligence to avoid committing the offence.
Textual Amendments
F1Words in Sch. 3 para. 21(1)(b) substituted (14.1.2005) by The Insurance Mediation Directive (Miscellaneous Amendments) Regulations 2003 (S.I. 2003/1473), reg. 6(2)
F2Words in Sch. 3 para. 21(1)(b) substituted (20.4.2015 for specified purposes, 21.12.2015 for specified purposes) by The Mortgage Credit Directive Order 2015 (S.I. 2015/910), art. 1(5), Sch. 1 para. 1(10)(k) (with Pt. 4)
Commencement Information
I1Sch. 3 Pt. III para. 21 wholly in force at 1.12.2001; Sch. 3 Pt. III para. 21 not in force at Royal Assent see s. 431(2); Sch. 3 Pt. III para. 21 in force for certain purposes at 25.2.2001 by S.I. 2001/516, art. 2(b)(c), Sch. Pts. 2, 3; Sch. 3 Pt. III para. 21 in force for specified purposes at 18.6.2001 by S.I. 2001/1820, art. 2, Sch.; Sch. 3 Pt. III para. 21 in force in so far as not already in force at 1.12.2001 by S.I. 2001/3538, art. 2(1)
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