| An internal 'wall' between two departments of a bank or other financial institution which is meant to ensure that conflicts of interest do not arise and in particular that price sensitive information does not move between different departments. For instance, a bank might have a corporate finance department, which advises on takeovers and mergers, and a fund management division which invests client money in shares. If the fund managers were to hear about an impending deal, that would be insider dealing. Chinese walls, enforced by a bank's compliance department, are meant to ensure that the corporate financiers don't talk to the fund managers about their work.
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