102. Misleading Statements
(1) Subsection (2) applies to a person ("P") who —
(a) makes a statement which P knows to be false or misleading in a material respect;
(b) makes a statement which is false or misleading in a material respect, being reckless as to whether it is; or
(c) dishonestly conceals any material facts whether in connection with a statement made by P or otherwise.
(2) P commits a contravention of these Regulations if P makes the statement or conceals the facts with the intention of inducing, or is reckless as to whether making it or concealing them may induce, another person (whether or not the person to whom the statement is made) —
(a) to enter into or offer to enter into, or to refrain from entering or offering to enter into; or
(b) to acquire, dispose of, subscribe for or underwrite, or refrain from acquiring, disposing of, subscribing for or underwriting; or
(c) to exercise, or refrain from exercising, any rights conferred by—
a Financial Instrument, a Specified Investment or an Accepted Crypto Asset, as applicable.
(3) In proceedings for a contravention under subsection (2) brought against a person to whom that subsection applies as a result of paragraph (a) of 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) Subsections (1) and (2) do not apply unless —
(a) the statement is made in or from, or the facts are concealed in or from, the Abu Dhabi Global Market or arrangements are made in or from the Abu Dhabi Global Market for the statement to be made or the facts to be concealed;
(b) the person on whom the inducement is intended to or may have effect is in the Abu Dhabi Global Market; or
(c) the agreement is or would be entered into or the rights are or would be exercised in the Abu Dhabi Global Market.
|Amended on June 25, 2018|