Commentary Part 7 – Offences Relating to Financial Services Section 89: misleading statements
546.Section 89 creates a criminal offence relating to the making of a statement which the person making it knows to be false or misleading in a material respect or is reckless as to whether it is false of misleading, or the dishonest concealment of any material fact. A person commits an offence if the person makes the statement or conceals the facts with the intention of inducing, or is reckless as to whether they will induce, another person to engage in, or refrain from engaging in, market activity in relation to a relevant agreement or relevant investment (defined under section 93). This largely restates the effect of section 397(2) of FSMA.