The Comptroller shall adopt a code of ethics setting forth standards of conduct for members of the Investment Advisory Committee to avoid potential conflicts between the financial and other personal interests of members of the committee and the interests of the members and beneficiaries of the New York State and Local Employees' Retirement System and the New York State and Local Police and Fire Retirement System. The Comptroller may, in his discretion, amend the code of ethics from time to time. Copies of the code of ethics shall be provided to each person serving on the Investment Advisory Committee, and such persons shall acknowledge receipt of a copy of the code of ethics and shall be bound by the provisions thereof.