ethical wall

ethical wall
Chinese wall, Also known as an ethical wall. Arrangements within a business whereby information received in one part of a business is withheld from another part of the business. These arrangements are of particular relevance within financial institutions which deal in shares both as agent and principal. Chinese walls may also be used in very limited circumstances within solicitors' firms.
USA
An ethical barrier to prevent the flow of information in a business. Often a Chinese wall is put in place to separate the flow information from people making investment decisions and people with access to non-public information about those investments. Chinese walls are also used as a barrier in law firms if attorneys of the same firm have clients with conflicting interests.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.


ethical wall
n. A process for avoiding conflicts of interest by limiting disclosure of information to certain attorneys or individuals within a firm or corporation, thereby building a metaphorical wall between the holders of information and colleagues who represent interests or hold opinions which conflict. Also known as a Chinese wall.

Webster's New World Law Dictionary. . 2000.

Игры ⚽ Поможем решить контрольную работу

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