Introduction and Purpose
The INX Code of Business Ethics (the “Code”) summarizes the values, principles and business practices that guide our conduct as employees of The INX Digital Company, Inc (“INX ”) in service of any of its separate but affiliated subsidiaries (together – including The INX Digital Company, Inc – “INX”). The Code establishes a set of basic principles to guide all directors, officers and employees regarding the minimum requirements which we have set forth for our business.
The Code applies to Covered Persons in all of our offices around the world and to all subsidiaries, and some subsidiaries may have additional requirements. It is not, however, intended to provide an exhaustive list of all the detailed internal policies and procedures, regulations and legal requirements that may apply to you as an employee of INX and/or a representative of one of our regulated subsidiaries.
All individuals subject to the provisions of this Code must conduct themselves in a manner consistent with the requirements and processes set forth herein. Adherence to the Code is a fundamental condition of service with us and/or any of our subsidiaries or joint venture entities, as applicable. The products and services offered by our subsidiaries are made available to a wide customer base, some with fiduciary requirements, and we hold ourselves to the high ethical standards of the customers we serve.
Our Ethical Culture
Our primary objective at INX is to create the future of finance by providing crypto-native financial solutions through products and services offered by various affiliated subsidiaries to a wide range of customers, which may include individuals, high net worth individuals, corporations, financial institutions, institutional investors, and other entities.
INX requires that all dealings with, and on behalf of existing and prospective customers be handled with honesty, integrity, and the highest ethical standards and that such dealings adhere to the letter and the spirit of applicable laws, regulations and contractual guidelines. As a general matter, we believe we owe our customers a duty of undivided loyalty, and each Covered Person has a responsibility to act in a manner consistent with this duty.
When dealing with or on behalf of a customer, every Covered Person must act in the best interests of that customer. In addition, various comprehensive statutory and regulatory structures may impose specific responsibilities governing the behavior of personnel in carrying out their responsibilities. INX and its employees must comply fully with these rules and regulations.
INX Legal and Compliance Help
Legal and Compliance personnel are available to assist Covered Persons in meeting these requirements. All Covered Persons are expected to adhere to the high standards associated with our duty, including care and loyalty to customers, competency, diligence and thoroughness, and trust and accountability. Further, all Covered Persons must actively work to avoid the possibility that the products and services we provide to customers are, or give the appearance of being, based on the self-interests of INX or its employees and not customers’ best interests.
Our ethical responsibilities apply to a broad range of business and related activities, including sales and marketing, customer service, operations support, new product development as well as your personal investing activities. These obligations include the duty to avoid material conflicts of interest (and, if this is not possible, to provide full and fair disclosure to customers in communications), to keep accurate books and records, and to supervise personnel appropriately. These concepts are further described in the Sections that follow.
Applicability of the Code
A Covered Person is someone for whom the Code is applicable. This can be further defined by adding that INX Covered Persons include both Supervised Persons and Access Persons.
A Supervised Person is any full-time employee (Covered Person) of The INX Digital Company, Inc and performs services for it and/or its affiliated entities.
An Access Person is any Supervised Person who:
- Is a Director, Officer, or Partner of The INX Digital Company, Inc or its affiliates
- Has access to non-public, material information such as
- Pending customer relationships or partnership opportunities
- Customer account activity, including transfers, trades, transactions, deposits and withdrawals
- Asset support changes (e.g., adding, adjusting or removing support for specific digital assets)
- Is the spouse/partner of an Access Person
The facts and circumstances surrounding Code violations determine the consequences, up to and including termination of employment.
Responsibility to Report
Compliance with and adherence to the Code is everyone’s responsibility. Therefore, if a Covered Person knows of, or reasonably believes there is a violation of this Code, they must report that information immediately to the General Counsel or the Chief Compliance Officer. The Covered Person should not conduct preliminary investigations unless authorized to do so by the General Counsel or the Chief Compliance Officer.
Anyone who in good faith raises an issue regarding a possible violation of law, regulation or company policy or any suspected illegal or unethical behavior will be protected from retaliation. If you, the Covered Person, have violated the Code, however, making a report will not protect you from the consequences of your actions. You can be subject to discipline up to and including termination of employment if you violate the Code or fail to report violations that come to your attention.
How to Report
Contact the General Counsel or Chief Compliance Officer directly. If a Covered Person does not feel comfortable making direct contact to report a violation, or potential violation, they may use the process detailed in the Confidential Reporting Guide.
INX Policy on Whistleblower Protection
No Code can address all specific situations. Accordingly, each Covered Person is responsible for applying the principles set forth in this Code in a responsible fashion and with the exercise of good judgement and common sense. Whenever uncertainty arises, a Covered Person should seek guidance from an appropriate supervisors, a representative from Human Resources, the General Counsel or Chief Compliance Officer before proceeding.
All Covered Persons should promptly report any practices or actions the Covered Person believes to be inappropriate or inconsistent with any provisions of the Code. In addition, all Covered Persons must promptly report any actual violations of the Code to the General Counsel or Chief Compliance Officer directly or through the process detailed in the Confidential Reporting Guide. Any person reporting a violation in good faith will be protected against reprisals.
If you feel uncomfortable utilizing the formal channels, issues may be brought to the attention of the Chief Executive Officer or the U.S. Chief Executive Officer.
Nothing herein, or in any contractual confidentiality provision to which any Covered Person is subject, prohibits Covered Persons from reporting possible violations of law or regulation to any governmental agency or entity, or self-regulatory authority, or from making other disclosures that are protected under the whistleblower provisions of state or federal law or regulation.
Covered Persons do not need INX’s prior authorization to make any such reports or disclosures and are not required to notify INX that they have made such reports or disclosures.