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APER 4.3 Statement of Principle 3


The Statement of Principle 3 (see ) is in the following terms: "An approved person must observe proper standards of market conduct in carrying out his controlled function."

APER 4.3.2G

In many cases the required standard will be set out in MAR 3 (Inter-Professional Conduct) and the Code of Market ConductMAR 1). Market codes and exchange rules will also be relevant.


A factor to be taken into account in determining whether or not an approved person's conduct complies with this Statement of Principle APER 2.1.2 P) is whether he, or his firm, has complied withMAR 3 (Inter-Professional Conduct) or the Code of Market Conduct MAR 1) or relevant market codes and exchange rules.


Compliance with the code or rules described in APER 4.3.3 E will tend to show compliance with this Statement of Principle (APER 2.1.2 P).