Part XXVII Offences

Miscellaneous offences

F1397 Misleading statements and practices.

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398 Misleading F2FCA or PRA: residual cases.

(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;

F6(ba)

the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701);

(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; F7...

(e)

Regulation (EU) No 346/2013 of the European Parliament and the Council of 17 April 2013 on European social entrepreneurship funds. F8; F9...

F10(ea)

any directly applicable EU regulation made under the markets in financial instruments directive;

(eb)

the markets in financial instruments regulation and any directly applicable EU regulation made under it; or

F11(f)

Regulation (EU) No 2015/760 of the European Parliament and of the Council of 29th April 2015 on European Long-term Investment Funds F12... F13; F14...

(g)

the market abuse regulation. F15...

F16(h)

the EU Benchmarks Regulation 2016. F17; or

F18(i)

the MMF Regulation.

(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.

399 Misleading F19the CMA.

Section 44 of the M1Competition Act 1998 (offences connected with the provision of false or misleading information) applies in relation to any function of F20the Competition and Markets Authority under this Act as if it were a function under Part I of that Act.