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Financial Services and Markets Act 2000
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Changes over time for: Section 24
Version Superseded: 12/03/2015
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- 01/12/2001- Amendment
- 01/07/2005
Point in time - 12/03/2015- Amendment
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Financial Services and Markets Act 2000, Section 24 is up to date with all changes known to be in force on or before 24 November 2024. 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.
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24 False claims to be authorised or exempt.U.K.
This section has no associated Explanatory Notes
(1)A person who is neither an authorised person nor, in relation to the regulated activity in question, an exempt person is guilty of an offence if he—
(a)describes himself (in whatever terms) as an authorised person;
(b)describes himself (in whatever terms) as an exempt person in relation to the regulated activity; or
(c)behaves, or otherwise holds himself out, in a manner which indicates (or which is reasonably likely to be understood as indicating) that he is—
(i)an authorised person; or
(ii)an exempt person in relation to the regulated activity.
(2)In proceedings for an offence under this section it is a defence for the accused to show that he took all reasonable precautions and exercised all due diligence to avoid committing the offence.
(3)A person guilty of an offence under this section is liable on summary conviction to imprisonment for a term not exceeding six months or a fine not exceeding level 5 on the standard scale, or both.
(4)But where the conduct constituting the offence involved or included the public display of any material, the maximum fine for the offence is level 5 on the standard scale multiplied by the number of days for which the display continued.
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