Definitions for "Conflicts of Interest"
Situation where an employee has an interest, financial or otherwise (direct or indirect), engages in any business transaction or professional activity; or incurs any obligation of any nature which is in substantial conflict with the full and competent performance of the employee's duties.
Conflicts of interest affect many professions and can take many forms. In medicine, they might take the form of a conflict between physicians' interest in their patients' health and in their stake in a manufacturer of pharmaceuticals. [See Case Studies related to Conflicts of Interest
refers to any relationship which is or appears to be not in the best interest of the organization. A conflict of interest would prejudice an individual's ability to carry out their duties and responsibilities objectively. (280.01)
Circumstances that arise where a firm has an investment which could encourage it not to treat its clients favourably. The more areas in which a firm is involved the greater the number of potential conflicts.