conflict of interest

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conflict of interest

A situation that presents the possibility of having to choose which side in a transaction will receive the better service, deal, terms, or representation.The conflict may be choosing between two other parties,such as an agent attempting to represent both buyer and seller in a particular transaction,or it may be between the party and another,such as a real estate broker wishing to purchase property listed with that same broker.Rules regarding handling conflicts of interest generally provide a solution through full disclosure to all parties involved or withdrawal from the situation entirely.

References in periodicals archive ?
To that end, members of the public who wish to comment on what types of service or positions with outside entities may lead to conflicts of interest are encouraged to submit written comments to the Committee.
They propose that the FDA should require--rather than only encourage --speakers to disclose conflicts of interest at all of the agency's advisory committee meetings.
They should keep in mind that the SEC may be heading in a very similar direction with regard to the standard of conduct applicable to firms and their representatives and what actions should be taken to address conflicts of interest.
Nepotism is a well-known example, but it's just one type of conflicts of interest. The most common conflict arises when a person has a personal interest in a company transaction, and is in a position to influence that transaction or arrangement.
Be aware of areas where potential conflicts of interest may develop.
However, the report says that while conflicts of interest were not well managed as part of the governance of the project, none of the individuals concerned had acted inappropriately.
While the revised Code of Professional Conduct does not provide a definition for conflicts of interest, it describes them as situations that create adverse interest or self-interest threats to the CPA's compliance with the Integrity and Objectivity Rule.
The themed inspection found that firms with a strong culture of client-focus and regulatory compliance managed the risks around conflicts of interest best.
The post Pace to be picked up on conflicts of interest appeared first on Cyprus Mail .
The third proposed amendment concerns internal arrangements to mitigate conflicts of interest.
"There have always been conflicts of interest in real estate," said Neil Shapiro, a lawyer at Herrick, Feinstein LLP.
The 19 chapters presented are organized into sections discussing different jurisdictions' procedural approaches to the issue, the strategies of international organizations in the fight against corruption and conflicts of interest, and the strategies of European administrative law.