Section 400

A financial institution commits an offence if without reasonable excuse it fails to comply with a requirement imposed on it under a customer information order. A financial institution guilty of an offence under subsection (1) is liable on summary conviction to a fine not exceeding level 5 on the standard scale. A financial institution commits an offence if, in purported compliance with a customer information order, it— makes a statement which it knows to be false or misleading in a material particular, or recklessly makes a statement which is false or misleading in a material particular. A financial institution guilty of an offence under subsection (3) is liable— on summary conviction, to a fine not exceeding the statutory maximum, or on conviction on indictment, to a fine.

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