Throughout history, collectors have played a positive role in supporting art ecosystems. At the same time, we have also witnessed stories about unethical behaviours. It is in response to this realization, and to reaffirm that collectors have a critical positive role in artistic production and experimentation, that a code of conduct was conceived by an international collective of collectors. The code is a voluntary set of standards to guide contemporary art collectors in their interactions with artists, artworks, galleries, institutions and other art stakeholders. It is meant to encourage collectors to think about ethical issues and become agents toward a more fair and socially just art world. It invites collectors to fully appreciate the position of power they have, and that power comes with responsibilities. The panel explored some aspects of the code and was an opportunity to dialogue with the audience on these important topics.