Eukleia Training is pleased to announce the release of a new elearning course on the Model Code. The Model Code is published by the UK Listing Authority (UKLA) and provides rules and guidance for Directors and senior executives of listed companies to follow when dealing in shares in their own company.
In February 2013, Nestor Healthcare Group Limited was fined £175,000 by the UK Listing Authority (UKLA) for failing to take all proper and reasonable steps to secure the compliance of its senior executives with the UKLA’s Model Code. This was the first case of this type. In the Final Notice, the UKLA emphasised the requirement for listed companies to:
- Remind senior executives regularly of their obligations under the Model Code
- Train senior executives on the content of their company’s share dealing policy and the need to comply with it
David Lawton, UKLA Director of Markets, commented,
"The Model Code is fundamental in helping directors and senior executives protect themselves against suspicion of abusing inside information…. Listed companies should ensure their practices in this area are fit for purpose."
This new course provides a practical guide to the Model Code and specifically addresses these obligations and learning messages through a range of interactive scenarios.
The course is aimed at board directors (executive and non-executive) and senior executives of UK listed companies as well as legal and corporate governance professionals. It includes the following topic headings:
- Purpose and scope of the Model Code
- Key definitions
- Obtaining permission to deal
- The consequences of breaches
The course is designed to reference a company’s internal personal account dealing policies and procedures through document and/or intranet links. Further customisation can be added to incorporate this material into the body of the course.
Further information and free trial access to the course is available online: Model Code elearning.