Financial crime in the financial services sector
Financial crime in the financial services sector

The following Corporate Crime practice note provides comprehensive and up to date legal information covering:

  • Financial crime in the financial services sector
  • Criminal offences under the Financial Services and Markets Act 2000 (FSMA 2000)
  • Insider dealing
  • Criminal offences under the Financial Services Act 2012
  • Sentences
  • The general prohibition
  • Financial promotion restriction
  • Statutory defences
  • Defences under FSA 2012
  • Defences to insider dealing allegations
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for corporate crime?

The Financial Services and Markets Act 2000 (FSMA 2000) creates a range of criminal and civil/regulatory offences. For further information on civil/regulatory breaches and proceedings generally, see Practice Notes: Unauthorised business and the approach to enforcement—civil proceedings, Unauthorised business—legal and regulatory framework, Carrying on unauthorised business and breaching the general prohibition.

For guidance on the civil/regulatory market abuse regime and the implementation of the Market Abuse Regulation (EU) 596/2014, see Practice Notes: Market abuse—pre-Market Abuse Regulation, Market Abuse Regulation (MAR)—essentials, Market Abuse Regulation (MAR)—timeline and Market Abuse Regulation (MAR)—one minute guide.

For an overview of the criminal regime existing in Europe (outside of the UK) under Directive 2014/57/EU on criminal sanctions for market abuse, see Practice Note: Directive 2014/57/EU on criminal sanctions for market abuse.

Criminal offences under the Financial Services and Markets Act 2000 (FSMA 2000)

FSMA 2000, s 401 (proceedings for offences) makes

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