{"id":551,"date":"2004-09-27T00:00:00","date_gmt":"2004-09-27T00:00:00","guid":{"rendered":"https:\/\/www.fbf.fr\/en\/2004\/09\/27\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/"},"modified":"2021-11-04T18:12:13","modified_gmt":"2021-11-04T16:12:13","slug":"afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research","status":"publish","type":"post","link":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/","title":{"rendered":"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research"},"content":{"rendered":"\n<h2 class=\"wp-block-heading\">The French Association of Investment Firms (AFEI) and the French Banking Federation (FBF) have published a code of conduct for managing conflicts of interest in the field of investment research. Their goal is to highlight the high-level principles followed by banks and investment firms operating in France.<\/h2>\n\n\n\n<p class=\"wp-block-paragraph\"> <br>The independence of financial analysts contributes to market integrity and hence to the confidence of both individual and professional investors. It is therefore important for the French financial and banking community to stress the quality of France&#8217;s regulations in this area, a fact that investors &#8211; and particularly foreign investors &#8211; often overlook. <br> <br>The AFEI\/FBF Code collates and standardises practices that are already well established in French banks and investment firms. It lays down rules for detecting, preventing and dealing with potential conflicts of interest faced by financial analysts. The aim is to enhance transparency by making the rules readily accessible to all interested parties, notably investors. <br>  <br>The AFEI\/FBF Code also reflects recent developments in European regulations. It incorporates the latest measures contained in the directive on insider dealing and market manipulation and its implementing directive on the fair presentation of investment recommendations and the disclosure of conflicts of interest. Both directives will shortly be transposed into French law. <br> <br><i>To read the Code, appendix and glossary, see below<\/i> <\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/fbf.fr\/fr\/communique_de_presse\/lafei-et-la-fbf-ont-elabore-un-code-de-bonne-conduite-sur-la-gestion-des-conflits-dinterets-en-matiere-danalyse-financiere\/\">L\u2019AFEI et la FBF ont \u00e9labor\u00e9 un code de bonne conduite sur la gestion des conflits d\u2019int\u00e9r\u00eats en mati\u00e8re d\u2019analyse financi\u00e8re<\/a><\/p>\n\n\n<div class=\"postAttachment\"><div class=\"postAttachment__wrapper\"><div class=\"postAttachment__info\"><p class=\"postAttachment__name\">AFEI &#8211; FBF &#8211; Code of conduct on managing conflicts of interest in the field of investment research 2004<\/p><p class=\"postAttachment__fileSize\">1.0 MB<\/p><\/div><a class=\"postActions__action postActions__action--big clickEvent postAttachement_link\" data-wp-interactive=\"fbf\/tracking\" data-wp-context=\"{&quot;category&quot;:&quot;file&quot;,&quot;action&quot;:&quot;download&quot;,&quot;label&quot;:&quot;AFEI - FBF - Code of conduct on managing conflicts of interest in the field of investment research 2004&quot;}\" data-wp-on--click=\"actions.push\" data-eventcategory=\"file\" data-eventaction=\"download\" data-eventlabel=\"AFEI - FBF - Code of conduct on managing conflicts of interest in the field of investment research 2004\" href=\"https:\/\/fbf.fr\/uploads\/2021\/09\/AFEI_FBF_code_conduct_managing_conflict_interest_2004_EN.pdf\" target=\"_blank\" rel=\"noopener noreferrer\"><span class=\"postActions__label\">Download AFEI &#8211; FBF &#8211; Code of conduct on managing conflicts of interest in the field of investment research 2004<\/span><svg role=\"presentation\" class=\"postActions__icon\" width=\"14\"><use href=\"#download\" xlink:href=\"#download\"\/><\/svg><\/a><\/div><\/div>\n\n<div class=\"author\"><div class=\"author__wrapper\"><img decoding=\"async\" class=\"author__portrait\" src=\"https:\/\/fbf.fr\/uploads\/2021\/04\/Benoit-Danton.jpeg\" alt=\"\"><p class=\"author__name\">Benoit DANTON<\/p><p class=\"author__contact\">bdanton@fbf.fr<\/p><p class=\"author__contact\">+33 (0)6.73.48.80.40<\/p><\/div><\/div>\n\n\n<p class=\"wp-block-paragraph\"><br><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The French Association of Investment Firms (AFEI) and the French Banking Federation (FBF) have published a code of conduct for managing conflicts of interest in the field of investment research. Their goal is to highlight the high-level principles followed by banks and investment firms operating in France. The independence of financial analysts contributes to market [&hellip;]<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":"","views":8009,"viewed_at":"1778485325"},"categories":[2,607,4,5],"tags":[],"class_list":["post-551","post","type-post","status-publish","format-standard","hentry","category-rubric-about-us","category-master-agreements","category-rubric-newsroom","category-press-releases"],"yoast_head":"<title>AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research<\/title>\n<meta name=\"description\" content=\"The French Association of Investment Firms (AFEI) and FBF have published a code of conduct for managing conflicts of interest in the field of investment research.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research\" \/>\n<meta property=\"og:description\" content=\"The French Association of Investment Firms (AFEI) and FBF have published a code of conduct for managing conflicts of interest in the field of investment research.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/\" \/>\n<meta property=\"og:site_name\" content=\"The French Banking Federation\" \/>\n<meta property=\"article:published_time\" content=\"2004-09-27T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-11-04T16:12:13+00:00\" \/>\n<meta name=\"author\" content=\"abrienne\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"abrienne\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\\\/\"},\"author\":{\"name\":\"abrienne\",\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#\\\/schema\\\/person\\\/7a0eaa7cb55394ac1162659cb9e30fe8\"},\"headline\":\"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research\",\"datePublished\":\"2004-09-27T00:00:00+00:00\",\"dateModified\":\"2021-11-04T16:12:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\\\/\"},\"wordCount\":262,\"publisher\":{\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#organization\"},\"articleSection\":[\"About us\",\"Master agreements\",\"Newsroom\",\"Press releases\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\\\/\",\"url\":\"https:\\\/\\\/fbf.fr\\\/en\\\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\\\/\",\"name\":\"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#website\"},\"datePublished\":\"2004-09-27T00:00:00+00:00\",\"dateModified\":\"2021-11-04T16:12:13+00:00\",\"description\":\"The French Association of Investment Firms (AFEI) and FBF have published a code of conduct for managing conflicts of interest in the field of investment research.\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/fbf.fr\\\/en\\\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/fbf.fr\\\/en\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#website\",\"url\":\"https:\\\/\\\/fbf.fr\\\/en\\\/\",\"name\":\"The French Banking Federation\",\"description\":\"The French Banking Federation is the professional body representing all banks operating in France.\",\"publisher\":{\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/fbf.fr\\\/en\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#organization\",\"name\":\"The French Banking Federation\",\"url\":\"https:\\\/\\\/fbf.fr\\\/en\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/fbf.fr\\\/uploads\\\/2026\\\/06\\\/cropped-FBF_150-90-2-4.png\",\"contentUrl\":\"https:\\\/\\\/fbf.fr\\\/uploads\\\/2026\\\/06\\\/cropped-FBF_150-90-2-4.png\",\"width\":150,\"height\":90,\"caption\":\"The French Banking Federation\"},\"image\":{\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/fbf.fr\\\/en\\\/#\\\/schema\\\/person\\\/7a0eaa7cb55394ac1162659cb9e30fe8\",\"name\":\"abrienne\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a7cff2b3bc9bb0a0494d4272a51f2ec66e062da08c5686e5fb1a471b73baadc9?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a7cff2b3bc9bb0a0494d4272a51f2ec66e062da08c5686e5fb1a471b73baadc9?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/a7cff2b3bc9bb0a0494d4272a51f2ec66e062da08c5686e5fb1a471b73baadc9?s=96&d=mm&r=g\",\"caption\":\"abrienne\"}}]}<\/script>","yoast_head_json":{"title":"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research","description":"The French Association of Investment Firms (AFEI) and FBF have published a code of conduct for managing conflicts of interest in the field of investment research.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/","og_locale":"en_US","og_type":"article","og_title":"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research","og_description":"The French Association of Investment Firms (AFEI) and FBF have published a code of conduct for managing conflicts of interest in the field of investment research.","og_url":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/","og_site_name":"The French Banking Federation","article_published_time":"2004-09-27T00:00:00+00:00","article_modified_time":"2021-11-04T16:12:13+00:00","author":"abrienne","twitter_card":"summary_large_image","twitter_misc":{"Written by":"abrienne","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/#article","isPartOf":{"@id":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/"},"author":{"name":"abrienne","@id":"https:\/\/fbf.fr\/en\/#\/schema\/person\/7a0eaa7cb55394ac1162659cb9e30fe8"},"headline":"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research","datePublished":"2004-09-27T00:00:00+00:00","dateModified":"2021-11-04T16:12:13+00:00","mainEntityOfPage":{"@id":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/"},"wordCount":262,"publisher":{"@id":"https:\/\/fbf.fr\/en\/#organization"},"articleSection":["About us","Master agreements","Newsroom","Press releases"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/","url":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/","name":"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research","isPartOf":{"@id":"https:\/\/fbf.fr\/en\/#website"},"datePublished":"2004-09-27T00:00:00+00:00","dateModified":"2021-11-04T16:12:13+00:00","description":"The French Association of Investment Firms (AFEI) and FBF have published a code of conduct for managing conflicts of interest in the field of investment research.","breadcrumb":{"@id":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/fbf.fr\/en\/afei-and-fbf-publish-a-code-of-conduct-on-managing-conflicts-of-interest-in-investment-research\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/fbf.fr\/en\/"},{"@type":"ListItem","position":2,"name":"AFEI and FBF publish a code of conduct on managing conflicts of interest in investment research"}]},{"@type":"WebSite","@id":"https:\/\/fbf.fr\/en\/#website","url":"https:\/\/fbf.fr\/en\/","name":"The French Banking Federation","description":"The French Banking Federation is the professional body representing all banks operating in France.","publisher":{"@id":"https:\/\/fbf.fr\/en\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/fbf.fr\/en\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/fbf.fr\/en\/#organization","name":"The French Banking Federation","url":"https:\/\/fbf.fr\/en\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/fbf.fr\/en\/#\/schema\/logo\/image\/","url":"https:\/\/fbf.fr\/uploads\/2026\/06\/cropped-FBF_150-90-2-4.png","contentUrl":"https:\/\/fbf.fr\/uploads\/2026\/06\/cropped-FBF_150-90-2-4.png","width":150,"height":90,"caption":"The French Banking Federation"},"image":{"@id":"https:\/\/fbf.fr\/en\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/fbf.fr\/en\/#\/schema\/person\/7a0eaa7cb55394ac1162659cb9e30fe8","name":"abrienne","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/a7cff2b3bc9bb0a0494d4272a51f2ec66e062da08c5686e5fb1a471b73baadc9?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/a7cff2b3bc9bb0a0494d4272a51f2ec66e062da08c5686e5fb1a471b73baadc9?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a7cff2b3bc9bb0a0494d4272a51f2ec66e062da08c5686e5fb1a471b73baadc9?s=96&d=mm&r=g","caption":"abrienne"}}]}},"_links":{"self":[{"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/posts\/551","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/comments?post=551"}],"version-history":[{"count":0,"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/posts\/551\/revisions"}],"wp:attachment":[{"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/media?parent=551"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/categories?post=551"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fbf.fr\/en\/wp-json\/wp\/v2\/tags?post=551"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}