Securities and Futures Act 2001 · 2020 Revised Edition · Part 12 · Market Conduct
209. False or misleading statements
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A person must not make a statement, disseminate any information or express any opinion that is false or misleading in a material particular to a person who carries out the activity of administering a financial benchmark if —
administering a financial benchmark
“administering a financial benchmark” means —(a)controlling the development of the definition of a financial benchmark for the purpose of determining a financial benchmark;(b)controlling the development of the methodology of determining a financial benchmark;(c)controlling the review of the definition of a financial benchmark for the purpose of determining a financial benchmark;(d)controlling the review of the methodology of determining a financial benchmark;(e)managing any arrangements, processes or mechanisms for the purpose of determining a financial benchmark;(f)collecting, analysing or processing any information or expression of opinion for the purpose of determining a financial benchmark;(g)applying a formula or other methods of calculation to information or expressions of opinion in order to determine a financial benchmark; or(h)monitoring and conducting surveillance of any information or expressions of opinion provided for the purpose of determining a financial benchmark,but does not include providing information in relation to a financial benchmark or any act that is necessary or incidental to providing such information;
the person intends that the statement, information or opinion be used for the purpose of administering a financial benchmark; and
the person knows or ought reasonably to have known that the statement, information or opinion is false or misleading in a material particular, or is reckless as to whether the statement, information or opinion is false or misleading in a material particular.