Related provisions for GEN 4.5.3
1 - 10 of 10 items.
It is likely to be misleading for a firm that is not authorised by the FCA or PRA to state or imply that it is so authorised. It is also likely to be misleading for a firm to state or imply that a client will have recourse to the Financial Ombudsman Service or the FSCS where this is not the case.2(3) [deleted]33
3As well as potentially breaching the requirements in this section, misleading statements by a firm may involve a breach of Principle 7 (Communications with clients) or section Part 7 (Offences relating to financial services) of the Financial Services Act 2012, as well as giving rise to private law actions for misrepresentation.
3The FCA has the power to take the following enforcement action: • discipline authorised firms under Part XIV of the 2000 Act and approved persons and other individuals1under s.66 of the 2000 Act;• impose penalties on persons that perform controlled functions4without approval under s.63A of the 2000 Act;• impose civil penalties2under s.123 of the 2000 Act;5• 2temporarily prohibit an individual from exercising management functions in MiFID investment firms or from dealing in