# Financial Services Act 1986 (repealed), Section 62: Actions for damages.

Extent: E+W+S+N.I.

(1) Without prejudice to section 61 above, a contravention of—
(a) any rules or regulations made under this Chapter;
(b) any conditions imposed under section 50 above;
(c) any requirements imposed by an order under section 58(3) above;
(d) the duty imposed by section 59(6) above,
shall be actionable at the suit of a person who suffers loss as a result of the contravention subject to the defences and other incidents applying to actions for breach of statutory duty.
(2) Subsection (1) applies also to a contravention by a member of a recognised self-regulating organisation or a person certified by a recognised professional body of any rules of the organisation or body relating to a matter in respect of which rules or regulations have been or could be made under this Chapter in relation to an authorised person who is not such a member or so certified.
(3) Subsection (1) above does not apply—
(a) to a contravention of rules made under section 49 or conditions imposed under section 50 in connection with an alteration of the requirements of those rules; or
(b) by virtue of subsection (2) above to a contravention of rules relating to a matter in respect of which rules have been or could be made under section 49.
(4) A person shall not be guilty of an offence by reason of any contravention to which subsection (1) above applies or of a contravention of rules made under section 49 above or such conditions as are mentioned in subsection (3)(a) above and no such contravention shall invalidate any transaction.

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Source: https://www.legislation.gov.uk/ukpga/1986/60/section/62 (the official version)
Page: https://openlegislation.uk/financial-services-act-1986-repealed/section-62
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.