MGN Ltd and Piers Morgan, editor of the Mirror, accept in full
the adjudication of the Press Complaints Commission about breaches of Clause 14
of the industry Code of Practice.
We regret that these breaches occurred and the failures by the
editor to enforce the provisions of the Code as they relate to financial
journalism. However steps have now been taken to ensure that such breaches
cannot be repeated. The company introduced in February its own rigorous internal
regime relating to share dealings which goes much further than the Code of
Practice. The company believes that these initiatives will ensure that there is
no repetition of such problems in the future and hopes other publishers will
follow this lead.
Piers Morgan added: 'I regret my failure to enforce the Code's
provisions on financial journalism. I remain strongly committed to the Code and
to its observation. All aspects of its application have been reinforced in my
newspaper undefined which has an excellent record on observing its terms
undefined and Trinity Mirror has also put in place firm controls which go
further than the Code and which should prevent the recurrence of any such
problems.'
