A new rule dealing with conflicts of interests has come into effect, the Saskatchewan Financial Services Commission says.

The new rule, which came into force on May 8, sets out conflict of interest rules that govern commission members and employees who administer the provisions of the Saskatchewan Securities Act.

It limits SFSC members and employees from engaging in any transaction for personal profit that: is based on their official position or authority; is based on confidential information gained by their position; blocks them from accepting the services of a registrant on favourable terms. In addition, they cannot disclose confidential information, be a director of an issuer or a registrant and they can only own publicly traded securities in registrants.