Membership of the BVCA implies support for the development of the UK private equity industry by encouraging entrepreneurs and investing in viable economic activity. In addition, members should contribute to the creation of a favourable climate for companies seeking private equity.
1. Members shall promote and maintain ethical standards of conduct and at all times deal fairly and honestly with each other and with companies seeking private equity.
2. Members shall conduct their business in a professional way and will not engage in practices which would be damaging to the image of the private equity industry.
3. Members recognise that their primary business is building the strength of their investee companies which will result in the funds under management making long-term capital gains.
4. Membership of the BVCA implies an active involvement by members in the companies in which they invest and this involvement shall be applied constructively to the benefit of the company concerned.
5. Members who sponsor investment syndications with other parties, whether members of the BVCA or not, must operate on the basis of full disclosure to such other parties.
6. Members will not accept in their funds subscribed capital from unspecified sources.
7. Members shall be accountable to their investors and keep their investors fully and regularly informed, including the provision of regular financial reports.
8. No member shall take improper advantage of its position in the BVCA nor of any information addressed to the BVCA.
9. Members shall respect confidential information supplied to them by companies looking for private equity or by companies in which they have invested.
10. All full members must supply investment and performance information to the BVCA or its nominated agent.
This information will be treated confidentially and used in the compilation of private equity industry reports where only aggregate information will be published.
Members shall require their directors, employees, representatives and nominees to comply with these standards. Members will avoid financing enterprises or participating in activities which are inconsistent with these goals.
