Code of Conduct - Libyan Investment Authority

work according to the highest standards of professionalism, ethics and integrity

LIA Code of Conduct sets out the principles for best practices expected of all LIA employees.

It also defines the rules of personal and professional behavior. It is of great importance in relation to the actions that affect the assets of the organization and its preservation and development in order to secure a prosperous future for the coming generations for many years.

LIA Code of Conduct covers four main areas

    • Fiduciary duty: employees must act in the best interest of LIA.
    • Legal knowledge: compliance with local and international laws.
    • Personal Investments (Securities traded in the market and Direct Investments): Prevention of Conflicts of Interest with respect to Personal Investments and Restrictions on Trading in Securities.
    • Supervisors Responsibilities: Supervisors have a duty to lead by example.
    • Obligations on behalf of LIA: Ensure that employees obtain approval before issuing public statements on behalf of or in connection with LIA.
    • Fair, honest and ethical dealing: ensuring that employees adhere to appropriate conduct.
    • Confidentiality (internal and external communications): protection of data and intellectual property, acting with caution and honesty, and guidelines on Internet use and media.
    • External interests: preventing employees from providing services to other organizations or influencing the decision-making process of LIA or any other organization.
    • Trading: Following the best methods of trading on behalf of the Libyan Investment Authority.
    • Proxy Voting: Voting on company-related issues in connection with LIA’s investment holdings.
    • Anti-bribery: Preventing bribes, kickbacks, illegal payments and political contributions.
    • Use of LIA Equipment: Guidance on the appropriate Use of LIA Infrastructure (Email, Hardware and Software).
    • Insider trading: preventing non-public information from being used for personal gain.
    • Market manipulation: preventing employees from manipulating the market.
    • Gifts, Entertainment and Gift Payments: Prevent gifts, exchanges, and inappropriate transfers involving LIA employees.
    • Conflict of interest: encourage disclosure of any existing or potential conflict of interest.
    • Political participation: ensuring that the political engagement of employees does not conflict with their roles in the Libyan Investment Authority and preventing the assumption of political party positions.
    • Personal investments: ensuring up-to-date reporting on investment holdings.
    • Behavioral violations (whistleblowing): reporting and protection of violations.
  • Professionalism

    • Fiduciary duty: employees must act in the best interest of LIA.
    • Legal knowledge: compliance with local and international laws.
    • Personal Investments (Securities traded in the market and Direct Investments): Prevention of Conflicts of Interest with respect to Personal Investments and Restrictions on Trading in Securities.
    • Supervisors Responsibilities: Supervisors have a duty to lead by example.
    • Obligations on behalf of LIA: Ensure that employees obtain approval before issuing public statements on behalf of or in connection with LIA.
    • Fair, honest and ethical dealing: ensuring that employees adhere to appropriate conduct.
  • Loyalty

    • Confidentiality (internal and external communications): protection of data and intellectual property, acting with caution and honesty, and guidelines on Internet use and media.
    • External interests: preventing employees from providing services to other organizations or influencing the decision-making process of LIA or any other organization.
    • Trading: Following the best methods of trading on behalf of the Libyan Investment Authority.
    • Proxy Voting: Voting on company-related issues in connection with LIA’s investment holdings.
    • Anti-bribery: Preventing bribes, kickbacks, illegal payments and political contributions.
    • Use of LIA Equipment: Guidance on the appropriate Use of LIA Infrastructure (Email, Hardware and Software).
  • Integrity of financial markets

    • Insider trading: preventing non-public information from being used for personal gain.
    • Market manipulation: preventing employees from manipulating the market.
  • Disclosure

    • Gifts, Entertainment and Gift Payments: Prevent gifts, exchanges, and inappropriate transfers involving LIA employees.
    • Conflict of interest: encourage disclosure of any existing or potential conflict of interest.
    • Political participation: ensuring that the political engagement of employees does not conflict with their roles in the Libyan Investment Authority and preventing the assumption of political party positions.
    • Personal investments: ensuring up-to-date reporting on investment holdings.
    • Behavioral violations (whistleblowing): reporting and protection of violations.

© 2021 LIA,  ALL RIGHTS RESERVED.

© 2021 LIA,  ALL RIGHTS RESERVED.