A group of 12 securities industry associations issued a joint statement today reiterating their stance against insider trading.

The associations say the statement reaffirms their commitment to promote fair and competitive markets in which inappropriate use of material nonpublic information is not tolerated. In addition, they pledged to undertake various initiatives to inform, educate and provide additional guidance to their members, non-members, and others.

The associations stress that their members have long had appropriate policies and procedures in place for handling material nonpublic information and for fully complying with securities laws and regulations.

“However, since even the perception of misuse has the potential to erode confidence in the integrity, as well as the liquidity and efficiency of the securities and derivatives markets on which their members rely, the associations believe it is important to maintain a focus on this issue in the midst of the complex and ever changing financial markets,” they say.

In addition, the statement references the principles and guidance on the communication and use of material nonpublic information that has previously been issued by several of the associations.

The statement was issued by: the Asia Pacific Loan Market Association, the American Securitization Forum, the Asian Securities Industry and Financial Markets Association, the European High Yield Association, the European Securitisation Forum, the International Association of Credit Portfolio Managers Inc., the International Swaps and Derivatives Association, the Loan Market Association, the Loan Syndications and Trading Association, the London Investment Banking Association, the Managed Funds Association, and the Securities Industry and Financial Markets Association.