104. Misleading statements etc. in relation to Benchmarks

(1) A person ("A") who makes to another person ("B") a false or misleading statement commits a contravention of these Regulations if —
(a) A makes the statement in the course of arrangements for the setting of a Relevant Benchmark;
(b) A intends that the statement should be used by B for the purpose of the setting of a Relevant Benchmark; and
(c) A knows that the statement is false or misleading or is reckless as to whether it is.
(2) A person ("C") who does any act or engages in any course of conduct which creates a false or misleading impression as to the price or value of any investment or as to the interest rate appropriate to any transaction commits a contravention of these Regulations if —
(a) C intends to create the impression;
(b) the impression may affect the setting of a Relevant Benchmark;
(c) C knows that the impression is false or misleading or is reckless as to whether it is; and
(d) C knows that the impression may affect the setting of a Relevant Benchmark.
(3) In proceedings for a contravention under subsection (1), it is a defence for the person charged ("D") to show that the statement was made in conformity with —
(a) Price Stabilising Rules (section 7(4)); or
(b) Control of Information Rules (section 7(3)).
(4) In proceedings brought against any person ("D") for a contravention under subsection (2) it is a defence for D to show —
(a) that D acted or engaged in the conduct —
(i) for the purpose of stabilising the price of investments; and
(ii) in conformity with Price Stabilising Rules (section 7(4)); or
(b) that D acted or engaged in the conduct in conformity with Control of Information Rules (section 7(3)).
(5) Subsection (1) does not apply unless the statement is made in or from the Abu Dhabi Global Market or to a person in the Abu Dhabi Global Market.
(6) Subsection (2) does not apply unless —
(a) the act is done, or the course of conduct is engaged in, in the Abu Dhabi Global Market; or
(b) the false or misleading impression is created in the Abu Dhabi Global Market.