Code of Conduct is “a set of rules about how to behave and do business with other people”. A Code of Conduct is necessary in the operation of a BAN, that’s why the European Business Angel Network (EBAN) has introduced a model Code of Conduct for angel networks (Business Angel Networks – BANs).The objective of a code of conduct is to give standard guidelines how a network should operate and what it is expected to be followed by its members. The proposed model Code of Conduct, should be tailored to meet the BANs specific legal and commercial requirements.