Section 398

A person who, in purported compliance with any requirement falling within subsection (1A) knowingly or recklessly gives a regulator information which is false or misleading in a material particular is guilty of an offence. A requirement falls within this subsection if it is imposed by or under— this Act; the Alternative Investment Fund Managers Regulations 2013; the Financial Services and Markets Act 2000 (Markets in Financial Instruments) Regulations 2017 (S.I. 2017/701); the Short Selling Regulations 2025; Regulation (EU) No 345/2013 of the European Parliament and the Council of 17 April 2013 on European venture capital funds; ... Regulation (EU) No 346/2013 of the European Parliament and the Council of 17 April 2013 on European social entrepreneurship funds ; ... any EU regulation, originally made under the markets in financial instruments directive, which is assimilated direct legislation; any of the following— the markets in financial instruments regulation, any EU regulation, originally made under the markets in financial instruments regulation, which is assimilated direct legislation, and any subordinate legislation (within the meaning of the Interpretation Act 1978) made under the markets in financial instruments regulation on or after IP completion day; . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ; ... the market abuse regulation; ... the EU Benchmarks Regulation 2016 ; ... the MMF Regulation ; ... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 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. A person guilty of an offence under this section is liable— on summary conviction, to a fine not exceeding the statutory maximum; on conviction on indictment, to a fine.

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Source: legislation.gov.uk · retrieved 2026-09-04