News

Inside information: FSA issues principles

5 June 2008

The SRA notes the publication on 5 June 2008 of the Principles of Good Practice for the Handling of Inside Information (PDF 106K, see page 9) aimed at unregulated organisations and supports the FSA’s objectives in raising standards in this sector. The principles have been published by a working party sponsored by the Financial Services Authority, as part of efforts to eliminate misuse of inside information in the capital markets.

While the principles are not aimed at solicitors, the SRA wishes to take the opportunity presented by their publication to remind solicitors' firms working in this area to ensure that they have robust procedures and management systems for maintaining the confidentiality of client affairs and for managing risk, in accordance with rule 4 and rule 5 of the Solicitors' Code of Conduct.