Ethical walls are also used in the corporate finance departments of the Big Four and other large audit and financial services companies. They are designed to isolate sensitive documentation from the larger enterprise to avoid conflict. The term "China Wall," as used in the business world, describes a virtual barrier designed to block the exchange of information between departments when it could give rise to ethically or legally questionable trade policy activities. In the United States, companies, brokers, investment banks and retail banks have used the walls of China to describe situations where confidentiality must be maintained in order to avoid conflicts of interest. The walls of China can be used in law firms to deal with a conflict of interest, for example. B to separate a part of the firm representing a party in a dispute or agreement from another part of the registry with conflicting interests or confidential information from an opposite party. Under UK law, a law firm can represent competing parties in a lawsuit, but only in strictly defined situations and where individual beneficiaries do not act for both parties.  In U.S. law firms, the use of China`s walls is only permitted in very narrow cases. According to the American Bar Association Model Rules of Professional Conduct (2004), "While lawyers are partners in a law firm, none of them can knowingly represent a client if one of them, who practices alone, would not be incentivised by Rules 1.7 or 1.9, unless the prohibition is based on the personal interest of the prohibited lawyer and does not present a significant risk of materially limiting the client`s representation by the remaining lawyers at the registry."  Although abA rules are only advisory, most U.S.
states have adopted them or have even stricter rules in place. The term "already above the wall" is used by Equity Research employees to refer to rank and file staff who operate at any time without an ethical wall. Examples include members of the Wall of China department, most compliance employees, lawyers and some NYSE-licensed analysts. The term "above the wall" is used when an employee who is generally unfamiliar with the information kept by the walls receives sensitive information in one way or another. Offences, considered half-accidental, were generally not met by sanctions at the height of the Dot-com era.