Definitions for "Self-dealing"
It is a transaction between company officers, family members or business associates with no concerns for interest payments.
Foundations are prohibited from engaging in transactions with disqualified persons or using the foundation's assets to the benefit of such an individual. (See "disqualified persons.") For example, a foundation trustee's spouse might be flown at the charity's expense to a distant board meeting even though the spouse had no functional reason for attending. Trustees may be compensated for services that might ordinarily be performed by staff as long as the trustee has the requisite skills, the compensation is reasonable for the work performed, and the work was commensurate with the requirements of the foundation's charitable activity. As with most legal issues regarding foundation service, prudence is always the best course of action.
Improper conduct by a broker who, while employed by a principal, deals with the property for the brokees personal interest or benefit without full disclosure to and consent by the principal. An example of self-dealing is the selling of a property to a broker's relative without disclosure and consent of the principal.