The U.K. government has launched a voluntary code of good practice regarding transparency in music streaming, with trade orgs BPI and AIM publishing a handy checklist for record labels.

The code has been signed by various U.K. music trade bodies on behalf of their members and offers a framework for minimum standards in their dealings with everyone involved in the streaming industry.

It covers areas such as contracts, royalty accounting, the right of music makers to audit companies they are working with and transparency in DSP licensing agreements.

The U.K.’s Intellectual Property Office has oversight of the code and its implementation. It will convene meetings of signatory organizations every six months to consider modifications, and a formal review will take place every two years.

The full text of the initiative can be read here.