AFMA Code of Ethics & Code of Conduct

All AFMA member organisations and the individuals who represent them are expected to operate with a certain level of integrity, professionalism and competence. This ensures that the people using and relying on Australia’s OTC markets have complete confidence in the market participants representing them.

The AFMA Code of Ethics clearly articulates the ethical principles for acceptable standards of behaviour in the OTC markets and promotes responsible decision making. The Code of Conduct is a companion publication that outlines the rules of behaviour derived from these principles.

What does the Code cover?

The Code of Conduct cannot address all possible circumstances, but focuses on the issues that AFMA believes need to be clearly articulated. For example:

  • Identifying conduct that may have been problematic in the past.
  • Where leaving something to good judgement may not be sufficient.
  • When strong expectation from regulators, counter parties or the market requires specific mention.

The Code of Conduct was first published in 1991, with the first Code of Ethics released in 2002. Both underwent a thorough review in 2005 to ensure they remained comprehensive and relevant.

INFORMATION AND SOUNDINGS guidelines

This new guidelines relates to the handling of confidential information and the conduct of market soundings specifically for equity capital market transactions occurring in Australia.