Code of Practice, Press Complaints Commission (PCC)

(Clause 13 Financial Journalism only)

i) Even where the law does not prohibit it, journalists must not use for their own profit financial information they receive in advance of its general publication, nor should they pass such information to others.

ii) They must not write about shares or securities in whose performance they know that they or their close families have a significant financial interest without disclosing the interest to the editor or financial editor.

iii) They must not buy or sell, either directly or through nominees or agents, shares or securities about which they have written recently or about which they intend to write in the near future.

2. The Financial Times Department: Code of Practice

(23^rd August 2004, ‘financial journalism’ section only)

In order to ensure best possible practice, the FT has established a code in respect of financial and business journalism that goes beyond the standards set by the PCC. It is as follows:

FT employees:

● must not use for their own profit, financial information they receive in advance of its general publication, nor should they pass such information to others

● must not own shares or securities in any company they are directly responsible for covering. Any reporter taking over responsibility for covering a sector or company in which they have an existing holding should discuss what action they should take with the Editor or Managing Editor – either to sell or to “freeze” the holdings.

● must not write about, or make editorial decisions about, shares or securities in whose performance they know that they or their close families have a significant financial interest, without disclosing the interest to the Editor or Managing Editor

● must not buy or sell, either directly or through nominees or agents, shares or securities about which they have written or taken editorial decisions within the previous six months, or about which they intend to write in the near future

● must not speculate by buying and selling shares on a short-term basis

Additionally:

All editorial staff must complete an entry in the confidential Investment Register. The register allows for a confidential record to be kept of all the relevant investments held by staff. Only the Editor, the Deputy Editor, Managing Editor and Deputy Managing Editor have access to the complete register.

Even if an individual holds no relevant investments, this must be recorded. An individual must update their entry promptly whenever a relevant change in their investments occurs.

Specific investments that should be declared include:

● Shares of UK and overseas companies, public and private, including investment trusts, unit trusts and open-ended investment companies, including Peps and ISAs

● Derivative positions, such as options or spread bets

● Corporate bonds

● Those using advisory or discretionary brokers to manage their money should detail their holdings as of their last portfolio statement

The folloing are excluded:

● Any details about the value of your investments

● Holdings in Pearson

● Insurance policies

● Gilts

● Holdings by other members of your family

Дата добавления: 2015-11-14