The League Managers' Association (LMA) is working on a code under which managers will have to declare if they are working with a family member, or whether they are personally linked to any agent involved with a deal.

Eyebrows have been raised in the past at Manchester United boss Sir Alex Ferguson signing players represented by his son Jason, and it is hoped the code would eliminate any claims of a conflict of interest.

LMA chief executive John Barnwell said the code would be enforced by the Football Association's compliance unit, whose task is to investigate financial irregularities.

Barnwell said: "We are looking for greater transparency and accountability and we are taking legal instruction on the draft code of conduct.

"If there is a conflict of interest then managers must register it. You might have an agent looking after you who brings you a player and that is a conflict of interest.

"There is always a suggestion with a conflict of interest that everything is not as it should be when the deal might be 100% above board.

"By registering that conflict you can eliminate that doubt and give it credibility.

"Football is not corrupt but we want to make sure that it is as clean as it possibly can be."

The LMA is also seeking that the full financial details of every transfer should be made available to the authorities.

Barnwell added: "You cannot just demand that managers show their finances, but the code will make managers accountable, transparent and professional.

"The FA's compliance unit will deal with any breaches - they will be the teeth behind it, not us."

The code has been drawn up with input from the FA, the Premier League and the Professional Footballers' Association (PFA).