In forceUpdated to 30 Jun 2025

Contents

Financial Services and Markets Act 2022 · Updated to 30 Jun 2025 · Part 4 · Powers Regarding International Obligations and Prevention of Money Laundering and Terrorism Financing, and Assistance to Foreign Authorities and Domestic Author

23. Offences under this Division

(1)

A person shall be guilty of an offence if the person —

(a)

without reasonable excuse, refuses or fails to comply with an order made under section 20(2)(a) or 22(2);

(b)

without reasonable excuse, refuses or fails to comply with section 20(5) or 22(5); or

(c)

in purported compliance with an order made under section 20(2)(a) or 22(2) or with section 20(5) or 22(5), provides to the Authority any information, or copy of any information, known to the person to be false or misleading in a material particular.

(2)

A person who is guilty of an offence under subsection (1)(a) or (b) shall be liable on conviction —

(a)

in any case where the person is an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both and, in the case of a continuing offence, to a further fine not exceeding $5,000 for every day or part of a day during which the offence continues after conviction; or

(b)

in any other case, to a fine not exceeding $100,000 and, in the case of a continuing offence, to a further fine not exceeding $10,000 for every day or part of a day during which the offence continues after conviction.

(3)

A person who is guilty of an offence under subsection (1)(c) shall be liable on conviction —

(a)

in any case where the person is an individual, to a fine not exceeding $50,000 or to imprisonment for a term not exceeding 2 years or to both; or

(b)

in any other case, to a fine not exceeding $100,000.

Report

Read on from s 24

Part 4A