Astute observation Martin. BII and pubco problem alike being that codes of practice are just that; codes which in practice have not and are not implemented. There's no evidence anywhere to suggest the naughty boys have been putting the codes into practice and no evidence to support the notion that BII has had any effective scrutiny over the non implementation of the codes.

Let's not be naive about codes of practice. All too often Codes of Practice are like Corporate Social Responsibility statements; a grouping of noble sounding words, published, admired and adopted by peers but never put into action by anyone. Codes of Practice and CSR statements cost money when put into action, for no immediate financial return, so what's the point of actually changing what you do to follow the words?

And besides, who's ever going to find out?