London Code of Conduct for Non-Investment Products: A Consultation Paper

The current London Code of Conduct (LCC) for investment and 'non-investment products' produced by the Financial Services Authority (FSA) will be succeeded by a new Inter-Professionals Code (IPC) covering investment products.
Published on 30 November 2000

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.

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