699.This Part contains provisions which make it an offence to make misleading statements or engage in a misleading practice in order to induce someone to enter into an investment contract.  It also creates offences of misleading the Authority and the DGFT.  The first of these offences is carried over from sections 47 and 133 of the FS Act 1986 and section 35 of the Banking Act.  It also provides that where a corporate body (or partnership) has committed an offence then, in certain circumstances, its officers may also be guilty of that offence.  In addition, this Part contains general provisions on the institution of proceedings for offences under this Act.  It gives the Authority powers to prosecute insider dealing under the Criminal Justice Act 1993, to prosecute under the Money Laundering Regulations 1993, and to prosecute the offences of misleading statements and practices.
Commentary on Sections Part Xxvii: Offences