All 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.
All 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. Within their own firms (and portfolio companies), members will promote the principles of equality and diversity, equal opportunities, anti-discrimination and anti-harassment. The BVCA has endorsed Level 20’s guidelines for private equity firms.
No member shall take improper advantage of its position in the BVCA, nor of any information addressed to the BVCA.
General Partner and Limited Partner members, where applicable, 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.
Membership of the BVCA implies an active involvement by General Partner and Limited Partner members, where applicable, in the companies in which they invest and this involvement shall be applied constructively to the benefit of the company concerned.
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.
General Partner and Limited Partner members, where applicable, will not accept in their funds subscribed capital from unspecified sources.
General Partner and Limited Partner members, where applicable, shall be accountable to their investors and keep their investors fully and regularly informed, including the provision of regular financial reports.
General Partner and Limited Partner members, where applicable, shall respect confidential information supplied to them by companies looking for private equity investment or by companies in which they have invested.
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.