Section 24(1)
FSMA 2000
Financial Services and Markets Act 2000 · United Kingdom
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— describes himself (in whatever terms) as an authorised person; describes himself (in whatever terms) as an exempt person in relation to the regulated activity; or behaves, or otherwise holds himself out, in a manner which indicates (or which is reasonably likely to be understood as indicating) that he is— an authorised person; or an exempt person in relation to the regulated activity.
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Source: legislation.gov.uk · retrieved 2026-09-04