NEWS: IPR sets out its proposals for City regulation

The City and Financial group of the IPR has put forward its first proposals on the issue of self-regulation for financial PR firms.

The City and Financial group of the IPR has put forward its first

proposals on the issue of self-regulation for financial PR firms.



At a round-table session last week, a dozen leading consultants and in-

house PR directors met with representatives from the Stock Exchange and

the Securities and Investment Board to discuss measures to curb leaks of

price-sensitive information and other irregularities.



Proposals included the establishment of a code of conduct endorsed by at

least one City regulator and the establishment of a register of

financial PR practitioners. The IPR already operates a register for

political consultants.



The register would list individuals and firms who agreed to conform to

the code while rule breaches would be dealt with by removing members

from the register accompanied by widespread publicity about the

expulsion.



The group’s vice-chairman, Paul Barber, stressed that the proposals did

not form part of a definitive blueprint.



‘Clearly no-one wants more regulation than is absolutely necessary, but

we want to take the debate forward,’ said Barber.



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