Is mis-selling a market misconduct?

In a speech made in 2002, Mr. Lee Hsien Loong, who was then chairman of Monetary Authority of Singapore said,

"Market discipline also requires an effective enforcement regime. To preserve investor confidence, penalties for transgressions must be swift and appropriate. MAS now has the power to investigate and bring a court action for market misconduct under the new civil penalty regime. This will complement the existing criminal penalty regime administered by CAD.”

Someone commented in my blog as follows:

"Alamak this market discipline referred to is not referring to mis-selling to auntie uncle and ah poh and ah kongs...is to prevent pple from insider trading leh...or market manipulation...but its a good step in the correct direction!! "

Is the mis-selling of mini-bonds and other credit linked notes considered a market misconduct? Was Mr Lee Hsien Loong referring only to market manipulation in 2002?

What do you think?