Section 242 of FSMR provides that where a person:

(a) intentionally, recklessly or negligently commits a breach of duty, requirement, prohibition, obligation or responsibility imposed under the FSMR; or
(b) commits fraud or other dishonest conduct in connection with the matter arising under the FSMR;

the person is liable to compensate any other person for any loss or damage caused to that other person as a result of such conduct.