AFEI-FBF Code of conduct on managing conflicts of interest in investment research

This code of conduct for managing conflicts of interest in the field of investment research has been prepared by the French Association of Investment Firms (AFEI) and the French Banking Federation (FBF).

It sets out the rules to be followed by investment service providers and their employees in order to identify, prevent or, where necessary, deal with potential conflicts of interest faced by securities analysts working for financial firms.

Fisrt published in September 2004, it has been updated in March 2005.

• AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research
• Code FBF/AFEI relatif aux diligences à opérer par les prestataires de service d’investissement participant à une opération financière