General
It is essential that the integrity of the BBC and its programmes is not undermined by the outside activities or financial interests of any of its journalists. Our audiences must be able to trust the objectivity and impartiality of the BBC's output and to be confident that editorial decisions are based purely on sound, objective editorial judgement.
All BBC journalists are obliged to abide by the BBC Editorial Guidelines and the supplementary Conflicts of Interest Guidelines which state the BBC's policy in this area. All staff are also required to conform to the Agreed Statement: 'Conflict of Interest' which supports the relevant sections of the Editorial and Conflict of Interest Guidelines. In particular it is important that there is no suggestion that any business or financial interest could influence BBC coverage.
The relevant sections of the Conflicts of Interest Guidelines are:
'COMMERCIAL, BUSINESS AND FINANCIAL INTERESTS
'It is essential that the integrity of BBC programmes or other editorial output is not undermined by the commercial, business or financial interests of any programme makers, journalists, or presenters. There must never be any suggestion that commercial or financial interests have influenced BBC coverage or the subject matter of programmes or the choice of items.
'The onus is on the journalist, programme maker or presenter to let the BBC know if they have any interests which could be perceived as a conflict of interest.'
and
'Financial Journalism
'There are additional constraints on financial journalists. People working in financial programmes for the BBC should register all their shareholdings and other financial interests or dealings. Clear advice on this is given in the BBC Guidelines for Financial Journalism, which are available online and from the Editor, Economics and Business Centre.
'These additional guidelines for financial journalists protect the integrity of the BBC's output in this area. It is also important to remember that there are particular legal constraints which affect financial journalism. As stated earlier, it is illegal to use financial information acquired in advance to trade ahead of the markets.
'It is also illegal to promote financial services without proper authorisation from the relevant regulatory authorities. It is vital that no BBC financial journalist ever calls their integrity into question by appearing to promote any financial product or investment, especially if they or members of their immediate family have a financial interest in that product or investment.'
As stated above special rules apply to financial journalists and these guidelines constitute the detailed guidance referred to in the Conflicts of Interest Guidelines.
These guidelines were updated on 27th June 2005.