Wall crossing policy

French translation: politique de passage à travers la Muraille de Chine

17:28 Mar 10, 2016
English to French translations [PRO]
Bus/Financial - Management / Fund management
English term or phrase: Wall crossing policy
This concerns instructions given to empolyees having confidenbtial or inside information. Be very careful!
It means setting limits and, in my view, "politique de confidentialité" is too extensive.
Any help would be very much appreciated.
Peter LEGUIE
Local time: 08:41
French translation:politique de passage à travers la Muraille de Chine
Explanation:
the "wall" in question:

Muraille de Chine

Expression symbolique qui désigne l’ensemble des procédures dont l’objet est de prévenir la circulation indue d’informations confidentielles, notamment privilégiées, susceptibles de générer des conflits d’intérêts. A titre d’exemple, au sein d’un établissement prestataire de services d’investissement, il est interdit à un analyste financier en charge d’une opération sur le marché primaire d’informer le ou les gérants concerné(s) par cette opération.

http://www.tradingsat.com/lexique-boursier/definition-murail...

wall crossing = to allow communication between the two sides divide by the "Chinese wall" (in some limited circumstances)



--------------------------------------------------
Note added at 5 hrs (2016-03-10 22:32:19 GMT)
--------------------------------------------------

-Appliquer une bonne fois pour toute le principe de Muraille de Chine (entre la Banque de dépôt et la Banque commerciale)

Aux Etats-Unis, le Glass Steagall Act existait depuis 1933. Cependant, les lobbies bancaires ont réussi à le faire voler en éclats en 1999. En France, on voit apparaître dans la forme la séparation entre l'Investment Banking et le Brokerage. Mais en réalité, les deux entités sont toujours dans les mêmes locaux, et participent aux mêmes roadshow. Rien n'a été fait concrètement pour empêcher des pratiques néfastes pouvant aboutir à une altération de la vérité sur une valeur.

http://www.objectifeco.com/bourse/trading/at-chartisme-indic...

The recent investigation and penalty imposed by the FSA on an investment manager for market
abuse serves as a timely reminder of the need for internal procedures to avoid misuse of
information in the credit markets. In particular, there needs to be clarity as to whether or not an
investor is being made an insider or is being “wall-crossed”. This case is discussed in further detail
below.

www.linklaters.com/pdfs/Insights/capitalmarkets/SoftSoundin...

3. INSIDER TRADING.

Pursuant to Section 204A of the Advisers Act, all Supervised Persons
are prohibited from trading either personally or on behalf of others for any
Covered Account, as defined in the Adviser's Personal Investments Policy, any
client account or any other account, while in possession of material, nonpublic
information. Supervised Persons are also prohibited from communicating material,
nonpublic information to others in violation of the law. See also the Adviser's
Personal Investments Policy, the Citigroup ICG Employee Trading Policy and
Citigroup Policy on Confidential Information and Chinese Walls.

...

6. CONFIDENTIALITY.

Subject to the Compliance Manual, Citigroup's Confidential and Material
Non-Public Information Policy and Citigroup's Global Wall Crossing Policy
Procedures
, Supervised Persons must keep all information about clients
(including former clients) in strict confidence, including the client's identity
(unless the client consents), the client's financial circumstances, the client's
security holdings and advice furnished to the client by the Adviser.
...
http://www.sec.gov/Archives/edgar/data/878719/00011354281200...

--------------------------------------------------
Note added at 21 hrs (2016-03-11 14:43:35 GMT)
--------------------------------------------------

"... between the two sides divided by ..."
Selected response from:

Daryo
United Kingdom
Local time: 07:41
Grading comment
Thank you so much!
4 KudoZ points were awarded for this answer



Summary of answers provided
4 +2politique de passage à travers la Muraille de Chine
Daryo
5politique concernant la communication d'informations privilégiées
Christiane Allen
4 -2Les politiques de restriction aux analystes initiés
Francois Boye


Discussion entries: 2





  

Answers


3 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): -2
wall crossing policy
Les politiques de restriction aux analystes initiés


Explanation:
Analysts involved in underwriting face confidentiality restrictions:

http://www.investopedia.com/terms/b/broughtoverthewall.asp

Francois Boye
United States
Local time: 03:41
Native speaker of: Native in FrenchFrench
PRO pts in category: 60

Peer comments on this answer (and responses from the answerer)
disagree  Daryo: just because this is about the same subject it doesn't mean it's the right term
1 hr

disagree  Christiane Allen: Non, Daryo a raison!
2 hrs
Login to enter a peer comment (or grade)

5 hrs   confidence: Answerer confidence 5/5
wall crossing policy
politique concernant la communication d'informations privilégiées


Explanation:
Nombreuses références Google "wall crossing informations privilégiées"

Christiane Allen
United States
Local time: 00:41
Works in field
Native speaker of: French
PRO pts in category: 24
Login to enter a peer comment (or grade)

4 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +2
wall crossing policy
politique de passage à travers la Muraille de Chine


Explanation:
the "wall" in question:

Muraille de Chine

Expression symbolique qui désigne l’ensemble des procédures dont l’objet est de prévenir la circulation indue d’informations confidentielles, notamment privilégiées, susceptibles de générer des conflits d’intérêts. A titre d’exemple, au sein d’un établissement prestataire de services d’investissement, il est interdit à un analyste financier en charge d’une opération sur le marché primaire d’informer le ou les gérants concerné(s) par cette opération.

http://www.tradingsat.com/lexique-boursier/definition-murail...

wall crossing = to allow communication between the two sides divide by the "Chinese wall" (in some limited circumstances)



--------------------------------------------------
Note added at 5 hrs (2016-03-10 22:32:19 GMT)
--------------------------------------------------

-Appliquer une bonne fois pour toute le principe de Muraille de Chine (entre la Banque de dépôt et la Banque commerciale)

Aux Etats-Unis, le Glass Steagall Act existait depuis 1933. Cependant, les lobbies bancaires ont réussi à le faire voler en éclats en 1999. En France, on voit apparaître dans la forme la séparation entre l'Investment Banking et le Brokerage. Mais en réalité, les deux entités sont toujours dans les mêmes locaux, et participent aux mêmes roadshow. Rien n'a été fait concrètement pour empêcher des pratiques néfastes pouvant aboutir à une altération de la vérité sur une valeur.

http://www.objectifeco.com/bourse/trading/at-chartisme-indic...

The recent investigation and penalty imposed by the FSA on an investment manager for market
abuse serves as a timely reminder of the need for internal procedures to avoid misuse of
information in the credit markets. In particular, there needs to be clarity as to whether or not an
investor is being made an insider or is being “wall-crossed”. This case is discussed in further detail
below.

www.linklaters.com/pdfs/Insights/capitalmarkets/SoftSoundin...

3. INSIDER TRADING.

Pursuant to Section 204A of the Advisers Act, all Supervised Persons
are prohibited from trading either personally or on behalf of others for any
Covered Account, as defined in the Adviser's Personal Investments Policy, any
client account or any other account, while in possession of material, nonpublic
information. Supervised Persons are also prohibited from communicating material,
nonpublic information to others in violation of the law. See also the Adviser's
Personal Investments Policy, the Citigroup ICG Employee Trading Policy and
Citigroup Policy on Confidential Information and Chinese Walls.

...

6. CONFIDENTIALITY.

Subject to the Compliance Manual, Citigroup's Confidential and Material
Non-Public Information Policy and Citigroup's Global Wall Crossing Policy
Procedures
, Supervised Persons must keep all information about clients
(including former clients) in strict confidence, including the client's identity
(unless the client consents), the client's financial circumstances, the client's
security holdings and advice furnished to the client by the Adviser.
...
http://www.sec.gov/Archives/edgar/data/878719/00011354281200...

--------------------------------------------------
Note added at 21 hrs (2016-03-11 14:43:35 GMT)
--------------------------------------------------

"... between the two sides divided by ..."

Daryo
United Kingdom
Local time: 07:41
Native speaker of: Native in SerbianSerbian, Native in FrenchFrench
PRO pts in category: 36
Grading comment
Thank you so much!

Peer comments on this answer (and responses from the answerer)
agree  Christiane Allen: Oui, mais autant appeler un chat un chat, voir ma réponse.
1 hr
  -> Merci!

agree  Didier Fourcot: L'avantage est de reprendre le terme de "wall"
10 hrs
  -> Merci!
Login to enter a peer comment (or grade)



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