But even in such a case, a distributor might possess nonpublic data that would tend to show that the feature at issue was actually deployed innocently, negligently, or recklessly.
A personwho knowinglyorrecklessly makes anyfalseor incorrect statementor gives information which is materially falseor misleading commits an offence under the law.
The regulator said the criminal liability would depend on whether a sponsor "knowingly orrecklessly" submitted a document containing false or misleading facts, or left out information that may influence the decision of investors.
There is central supervision and regulation of eurozone banks, to stop them behaving in the way that those in Ireland, Spain and Cyprus did - or so recklessly that they come close to bankrupting the state.