Debenture Trustee Code of Conduct strengthens duties on confidentiality, conflict disclosure, due diligence and prohibition on insider trading. Substituted Schedule III prescribes a Code of Conduct for debenture trustees requiring protection of debenture holders' interests, high standards of integrity, prompt and professional performance, due diligence, client identification and record-keeping, confidentiality subject to law, and prompt disclosure to clients of changes in registration status or material adverse financial positions with provision to transfer outstanding business. It mandates disclosure and resolution of conflicts of interest, prohibition of unfair competition and insider trading, truthful reporting to the regulator, adequate supervision and internal controls, fitness of personnel, empowerment of a compliance officer, and prohibition of market manipulation and passing unpublished price-sensitive information.
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Debenture Trustee Code of Conduct strengthens duties on confidentiality, conflict disclosure, due diligence and prohibition on insider trading.
Substituted Schedule III prescribes a Code of Conduct for debenture trustees requiring protection of debenture holders' interests, high standards of integrity, prompt and professional performance, due diligence, client identification and record-keeping, confidentiality subject to law, and prompt disclosure to clients of changes in registration status or material adverse financial positions with provision to transfer outstanding business. It mandates disclosure and resolution of conflicts of interest, prohibition of unfair competition and insider trading, truthful reporting to the regulator, adequate supervision and internal controls, fitness of personnel, empowerment of a compliance officer, and prohibition of market manipulation and passing unpublished price-sensitive information.
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