Oregon Conflict of Interest Policy
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How to fill out Conflict Of Interest Policy?
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FAQ
A conflict of interest may lead to legal ramifications as well as job loss. However, if there is a perceived conflict of interest and the person has not yet acted maliciously, it's possible to remove that person from the situation or decision in which a possible conflict of interest can arise.
A conflict of interest exists if a legislator has any interest or engages in any business, transaction, or professional activity, or incurs any obligation, which is in substantial conflict with the proper discharge of his or her duties in the public interest.
Substantial conflict means deriving a substantial benefit or avoiding a substantial detriment as a result of one's official or employment activity. For purposes herein, substantial means having real worth or importance; actually existing; not speculative. Sample 1.
What is a Conflict of Interest? A conflict of interest occurs when an individual's personal interests family, friendships, financial, or social factors could compromise his or her judgment, decisions, or actions in the workplace.
The consequences of not dealing with a conflict of interest can be significant. It can result in reputational risk, a failure to act in the best interest of the entity, and poor governance.
N. a situation in which a person has a duty to more than one person or organization, but cannot do justice to the actual or potentially adverse interests of both parties.
Examples of Conflicts of Interest At WorkHiring an unqualified relative to provide services your company needs.Starting a company that provides services similar to your full-time employer.Failing to disclose that you're related to a job candidate the company is considering hiring.More items...
You are also required to disclose during the year if 1) you acquire a new financial interest or gift or 2) you wish to work or consult for an outside entity. If you acquire a new financial interest or gift that is covered under the policy, you must disclose within 30 days of acquiring the interest.
Disclosing an interest If you find yourself in a position of an actual, potential or a perceived conflict of interest you must declare it so that action can be taken to assess the risk and, where required, to manage or mitigate it.
If your personal circumstances change which may impact on your duties or research and could or do lead to an actual, potential or perceived conflict of interest, you should lodge a Declaration of Conflict of Interest.
