(3)Minimum standards concerning the prevention of misuse of inside information should reinforce the prevention of such misuse by members of the ECB's or NCAs' bodies or their staff members and exclude potential conflicts of interest arising from private financial transactions. For this purpose, the SSM Ethics Framework should clearly define the main concepts as well as the roles and responsibilities of the different bodies involved. Moreover, it should specify, beyond the general prohibition on misusing inside information, additional restrictions for persons having access to inside information. The SSM Ethics Framework should also lay down the requirements for compliance monitoring and the reporting of cases of non-compliance.