The IPC will cover only 'investment products' as defined, and will not cover 'non-investment products', that is wholesale sterling, foreign exchange and bullion deposits and the spot and forward foreign exchange and bullion transactions. However, there was strong market support for keeping a Code, drafted along the lines of the London Code, for trading in 'non-investment products' to provide continued guidance on good practice in order to underpin the professionalism and high standards that exist in the markets for 'non-investment products'. This would be a market Code with no statutory underpinning except where it refers to existing legal requirements.
Published on
30 November 2000
Press release