Commentary Part 7 – Offences Relating to Financial Services Section 91: misleading statements etc in relation to benchmarks
548.Section 91 creates a new offence relating to the making of a false or misleading statement, or the creation of a false or misleading impression, in connection with the setting of a relevant benchmark (defined under section 93). The person making the statement or creating the impression must know or be reckless as to whether the statement or impression is false or misleading. It is immaterial for this offence what the motive of the person is (for example, there is no requirement that the person be acting with the intention of inducing a person to engage in market activity or with the intention of making a gain or avoiding a loss).