Criminal Liability Flashcards
1
Q
Misleading statements
A
- Misleading statements - Part 7 FS Act
• Liability can arise out of Part 7 FSA for misleading statements (s. 89 FSA)
• This offence also extends to any conduct which creates false or misleading impression as to the market in or price of any relevant investments (s. 90 FSA)
• Penalties of imprisonment (maximum 7 years), a fine, or both
2
Q
Fraud Act
A
- Fraud Act 2006
• s. 2 (false representation)
3
Q
Financial Promotions
A
Potential criminal liability for contravention of s. 21 FSMA, under s. 25 FSMA
