Exhibit 14.2

Adopted:
2/20/04

A.G.
Edwards Financial Code Of Ethical Conduct

A.G. Edwards,
Inc. firmly embraces its responsibility to ensure its financial practices and
policies fulfill the obligations to shareholders, clients, employees, governmental
entities and regulatory authorities. A.G. Edwards has adopted the following code of
ethics for individuals serving as Chief Executive Officer, Chief Financial Officer,
Principal Accounting Officer, Controller, Director of Tax and Director of Regulatory
Accounting (collectively its Senior Financial Officers).

Senior
Financial Officers will:

|· |  | Act
with honesty and integrity, including the ethical handling of actual or apparent
conflicts of interest between personal and professional relationships.
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|· |  | Provide
financial reports and information that are accurate, complete, objective, relevant,
timely and understandable.
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|· |  | Comply
with applicable laws, rules and regulations of federal, state, provincial and local
governments, and private and public regulatory agencies.
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|· |  | Maintain
the confidentiality of information entrusted to them except when disclosure is
authorized or legally mandated, and not use for personal advantage any confidential
information acquired in the course of work.
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|· |  | Use
corporate assets and resources employed or entrusted to them in a responsible manner.
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|· |  | Promptly
report, as provided in the firm's Policy On Ethical Behavior And Anti-Retaliation,
any conduct believed to be a violation of the law or business ethics or of any
provision of the A.G. Edwards Financial Code of Ethical Conduct.
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|· |  | Understand
and acknowledge that violations of the A.G. Edwards Financial Code of Ethical
Conduct, including failures to report potential violations by others, will be
viewed as a severe disciplinary matter that may result in personnel action,
including termination of employment.
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