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ENF 15.2 Introduction

ENF 15.2.1G

Under section 401 of the Act (Proceedings for Offences), the FSA has power to prosecute the following offences:

  1. (1)

    carrying on or purporting to carry on a regulated activity without authorisation or exemption (under section 23);

  2. (2)

    making false claims to be authorised or exempt (under section 24);

  3. (3)

    communicating an invitation or inducement to engage in investment activity in breach of the restrictions on financial promotion (under section 25);

  4. (4)

    misleading the FSA and other contraventions in relation to the exercise of Treaty rights (under paragraph 6 of Schedule 4);

  5. (5)

    performing or agreeing to perform functions in breach of a prohibition order (under section 56(4));

  6. (6)

    failing to register a copy of listing particulars on or before publication (under section 83(3));

  7. (7)

    offering new securities to the public before publishing a prospectus required by the listing rules made under section 84 of the Act (section 85(2));

  8. (8)

    issuing an advertisement, or other information specified in the listing rules, without prior approval or authorisation from the competent authority (under section 98(2));

  9. (9)

    failing to cooperate with, or giving false information to, FSA appointed investigators (under section 177);

  10. (10)

    failing to comply with provisions about control over authorised persons (under section 191);

  11. (11)

    carrying on, or purporting to carry on, business in contravention of a consumer credit prohibition (under section 203(9));

  12. (12)

    making false claims to be a person to whom the general prohibition does not apply as a result of Part XX of the Act (Provision of Financial Services by Members of the Professions) (under section 333);

  13. (13)

    providing false or misleading information to an auditor or actuary (under section 346);

  14. (14)

    disclosing confidential information in contravention of the statutory restrictions under sections 348 and 350(5) (see section 352);

  15. (15)

    failure by a director of an insurer carrying on long-term insurance business to notify the FSA of a general meeting to propose a resolution for voluntary winding up (under section 366(3));

  16. (16)

    Misleading statements and practicesoffences (under section 397);

  17. (17)

    Misleading the FSA (under section 398).

ENF 15.2.2G

Under section 402 of the Act (Power of the FSA to institute proceedings for certain other offences), the FSA has power to prosecute the following offences:

  1. (1)

    insider dealing under Part V of the Criminal Justice Act 1993 (under section 402(1)(a));

  2. (2)

    Breaches of the prescribed regulations relating to money laundering (under section 402(1)(b)).

ENF 15.2.3G

The FSA has power to prosecute these offences in England, Wales and Northern Ireland, but not in Scotland. In Scotland, the Crown Office will remain responsible for prosecutions.