Compliance » Conflicts Guide For Compliance Officers

Conflicts Guide For Compliance Officers

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January 4, 2019

The International Chamber of Commerce has published new guidelines on conflicts of interest in enterprises. It advises diligent monitoring of actual or potential conflicts of interest, or the appearance of conflicts among directors, officers, employees, agents and representatives, and also making sure they don’t take advantage of conflicts of others. The Guidelines define what a conflict of interest is, provide examples, and include guidance on communication and training. In most instances, conflicts of interest are not illegal by themselves, but have the potential to lead to corrupt acts which are, usually when someone uses their official authority to benefit themselves, a relative or friend. The guides are aimed primarily at the private sector, but with minor adjustments are applicable to all organizations.

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