From the World Bank to pension funds, efforts are under way to regulate land grabs through the creation of codes and standards. The idea is to distinguish those land deals that do meet certain criteria and should be approvingly called "investments" from those that don't and can continue to be stigmatised as land "grabs". Up to now, it was mostly international agencies that were trying to do this. Now, the private sector is engaging in a serious way to set its own rules of the game. Either way, the net result is voluntary self-regulation -- which is ineffective, unreliable and no remedy for the fundamental wrongness of these deals. Rather than help financial and corporate elites to "responsibly invest" in farmland, we need them to stop and divest. Only then can the quite different matter of strengthening and supporting small-scale rural producers in their own territories and communities succeed, for the two agendas clash. In this article, GRAIN gives a quick update on what is going on.