Securities and Futures Act 2001 · 2020 Revised Edition · Part 12 · Market Conduct
201. Employment of manipulative and deceptive devices
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A person must not, directly or indirectly, in connection with the subscription, purchase or sale of any capital markets products —
capital markets products
“capital markets products” means any securities, units in a collective investment scheme, derivatives contracts, spot foreign exchange contracts for the purposes of leveraged foreign exchange trading, and such other products as the Authority may prescribe as capital markets products;
employ any device, scheme or artifice to defraud;
engage in any act, practice or course of business which operates as a fraud or deception, or is likely to operate as a fraud or deception, upon any person;
make any statement the person knows to be false in a material particular; or
omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading.