A CODE of conduct for investment intermediaries, drawn up for inclusion in the 1995 Act, has never been implemented. The code aims to set down in law basic terms under which intermediaries should conduct their business with clients. The code, which was put together by the Industry Working Party in October 1995, has still to be approved by the Department of Enterprise and Employment.
A spokesman for the Department said yesterday that a decision to implement the code in to law was delayed following disagreements among some industry members in relation to aspects of it and subsequently by the Taylor affair. A code of conduct incorporated under the Central Bank Act will, however, now apply to investment intermediaries coming under its authority, he said.
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