The European Parliament adopted its new code of conduct that sets out rules and principles which MEPs will need to follow in their contacts with outside interests, so as to avoid conflict of interests. The new rules enter into force on 1 January 2012.

MEPs will have to follow a new code of conduct as from 1 January 2012. The main aim of this code is setting out rules and principles which MEPs will need to follow in their contacts with outside interests, so as to avoid conflict of interests. Furthermore, the code's guiding principle is transparency. MEPs will have to provide clear declarations of their paid activities outside Parliament and their remuneration, as well as of any other functions which might constitute a conflict of interest.

The new code of conduct for MEPs contains an explicit ban on receiving payments or other rewards in exchange for influencing parliamentary decisions. There are clear rules on the acceptance of gifts and on the position of former MEPs working as lobbyists. This measure comes together to the joint register of lobbyists seeking access to Parliament and the Commission, adopted in May 2011. In addition, an advisory committee will provide guidance to MEPs and advise the President on what steps to take in the event of alleged breaches of the code.

If the code is breached, a member may be sanctioned with a reprimand, a forfeiture of the daily allowance from two up to ten days, temporary suspension from Parliament's activities (not including the right to vote) for a maximum of 10 days, or the loss of the role of rapporteur or other elected offices within Parliament (for the latter two sanctions, a confirmatory decision by the President is needed). Any such sanctions will be published on Parliament's web site.