Regulation 60 Carrying on a regulated activity without authorisation
A person who contravenes regulation 14 (prohibition on carrying on a regulated activity without authorisation) commits an offence and is liable—
(a)
on summary conviction in England and Wales, to a fine;
(b)
on summary conviction in Scotland, to a fine not exceeding the statutory maximum;
(c)
on conviction on indictment, to a fine.