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id="toc-In_the_practice_of_law-sublist" class="vector-toc-list"> <li id="toc-Concurrent_conflicts_of_interest" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Concurrent_conflicts_of_interest"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1</span> <span>Concurrent conflicts of interest</span> </div> </a> <ul id="toc-Concurrent_conflicts_of_interest-sublist" class="vector-toc-list"> <li id="toc-Direct_adversity_to_current_client" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Direct_adversity_to_current_client"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.1</span> <span>Direct adversity to current client</span> </div> </a> <ul id="toc-Direct_adversity_to_current_client-sublist" class="vector-toc-list"> <li id="toc-Identity_of_the_client_-_corporations" class="vector-toc-list-item vector-toc-level-4"> <a class="vector-toc-link" href="#Identity_of_the_client_-_corporations"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.1.1</span> <span>Identity of the client - corporations</span> </div> </a> <ul id="toc-Identity_of_the_client_-_corporations-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Material_limitation_conflicts" class="vector-toc-list-item vector-toc-level-4"> <a class="vector-toc-link" href="#Material_limitation_conflicts"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.1.2</span> <span>Material limitation conflicts</span> </div> </a> <ul id="toc-Material_limitation_conflicts-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Consent_to_concurrent_conflicts_of_interest" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Consent_to_concurrent_conflicts_of_interest"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.2</span> <span>Consent to concurrent conflicts of interest</span> </div> </a> <ul id="toc-Consent_to_concurrent_conflicts_of_interest-sublist" class="vector-toc-list"> <li id="toc-Consent_to_current_conflicts" class="vector-toc-list-item vector-toc-level-4"> <a class="vector-toc-link" href="#Consent_to_current_conflicts"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.2.1</span> <span>Consent to current conflicts</span> </div> </a> <ul id="toc-Consent_to_current_conflicts-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Prospective_consent_to_future_conflicts" class="vector-toc-list-item vector-toc-level-4"> <a class="vector-toc-link" href="#Prospective_consent_to_future_conflicts"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.2.2</span> <span>Prospective consent to future conflicts</span> </div> </a> <ul id="toc-Prospective_consent_to_future_conflicts-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-The_hot_potato_doctrine" class="vector-toc-list-item vector-toc-level-4"> <a class="vector-toc-link" href="#The_hot_potato_doctrine"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.2.3</span> <span>The hot potato doctrine</span> </div> </a> <ul id="toc-The_hot_potato_doctrine-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Successive_conflicts_of_interest" class="vector-toc-list-item vector-toc-level-3"> <a class="vector-toc-link" href="#Successive_conflicts_of_interest"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.3</span> <span>Successive conflicts of interest</span> </div> </a> <ul id="toc-Successive_conflicts_of_interest-sublist" class="vector-toc-list"> <li id="toc-The_substantial_relationship_test" class="vector-toc-list-item vector-toc-level-4"> <a class="vector-toc-link" href="#The_substantial_relationship_test"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.3.1</span> <span>The substantial relationship test</span> </div> </a> <ul id="toc-The_substantial_relationship_test-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Imputation_of_conflicts" class="vector-toc-list-item vector-toc-level-4"> <a class="vector-toc-link" href="#Imputation_of_conflicts"> <div class="vector-toc-text"> <span class="vector-toc-numb">1.1.3.2</span> <span>Imputation of conflicts</span> </div> </a> <ul id="toc-Imputation_of_conflicts-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> </ul> </li> </ul> </li> <li id="toc-Outside_of_the_practice_of_law" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Outside_of_the_practice_of_law"> <div class="vector-toc-text"> <span class="vector-toc-numb">2</span> <span>Outside of the practice of law</span> </div> </a> <ul id="toc-Outside_of_the_practice_of_law-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Organizational" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Organizational"> <div class="vector-toc-text"> <span class="vector-toc-numb">3</span> <span>Organizational</span> </div> </a> <ul id="toc-Organizational-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Conflict_of_interest_in_the_health_care_industry" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Conflict_of_interest_in_the_health_care_industry"> <div class="vector-toc-text"> <span class="vector-toc-numb">4</span> <span>Conflict of interest in the health care industry</span> </div> </a> <ul id="toc-Conflict_of_interest_in_the_health_care_industry-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Types" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Types"> <div class="vector-toc-text"> <span class="vector-toc-numb">5</span> <span>Types</span> </div> </a> <ul id="toc-Types-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Examples" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Examples"> <div class="vector-toc-text"> <span class="vector-toc-numb">6</span> <span>Examples</span> </div> </a> <button aria-controls="toc-Examples-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Examples subsection</span> </button> <ul id="toc-Examples-sublist" class="vector-toc-list"> <li id="toc-Environmental_hazards_and_human_health" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Environmental_hazards_and_human_health"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.1</span> <span>Environmental hazards and human health</span> </div> </a> <ul id="toc-Environmental_hazards_and_human_health-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Self-regulation" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Self-regulation"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.2</span> <span>Self-regulation</span> </div> </a> <ul id="toc-Self-regulation-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Insurance_claims_adjusters" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Insurance_claims_adjusters"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.3</span> <span>Insurance claims adjusters</span> </div> </a> <ul id="toc-Insurance_claims_adjusters-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Purchasing_agents_and_sales_personnel" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Purchasing_agents_and_sales_personnel"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.4</span> <span>Purchasing agents and sales personnel</span> </div> </a> <ul id="toc-Purchasing_agents_and_sales_personnel-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Real_estate_agents" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Real_estate_agents"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.5</span> <span>Real estate agents</span> </div> </a> <ul id="toc-Real_estate_agents-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Government_officials" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Government_officials"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.6</span> <span>Government officials</span> </div> </a> <ul id="toc-Government_officials-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Finance_industry_and_elected_officials" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Finance_industry_and_elected_officials"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.7</span> <span>Finance industry and elected officials</span> </div> </a> <ul id="toc-Finance_industry_and_elected_officials-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Finance_industry_and_economists" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Finance_industry_and_economists"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.8</span> <span>Finance industry and economists</span> </div> </a> <ul id="toc-Finance_industry_and_economists-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Stockbrokers" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Stockbrokers"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.9</span> <span>Stockbrokers</span> </div> </a> <ul id="toc-Stockbrokers-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-News_media" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#News_media"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.10</span> <span>News media</span> </div> </a> <ul id="toc-News_media-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Law,_administration,_and_academia" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Law,_administration,_and_academia"> <div class="vector-toc-text"> <span class="vector-toc-numb">6.11</span> <span>Law, administration, and academia</span> </div> </a> <ul id="toc-Law,_administration,_and_academia-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-Mitigation" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Mitigation"> <div class="vector-toc-text"> <span class="vector-toc-numb">7</span> <span>Mitigation</span> </div> </a> <button aria-controls="toc-Mitigation-sublist" class="cdx-button cdx-button--weight-quiet cdx-button--icon-only vector-toc-toggle"> <span class="vector-icon mw-ui-icon-wikimedia-expand"></span> <span>Toggle Mitigation subsection</span> </button> <ul id="toc-Mitigation-sublist" class="vector-toc-list"> <li id="toc-Removal" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Removal"> <div class="vector-toc-text"> <span class="vector-toc-numb">7.1</span> <span>Removal</span> </div> </a> <ul id="toc-Removal-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-"Blind_trust"" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#"Blind_trust""> <div class="vector-toc-text"> <span class="vector-toc-numb">7.2</span> <span>"Blind trust"</span> </div> </a> <ul id="toc-"Blind_trust"-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Disclosure" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Disclosure"> <div class="vector-toc-text"> <span class="vector-toc-numb">7.3</span> <span>Disclosure</span> </div> </a> <ul id="toc-Disclosure-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Recusal" class="vector-toc-list-item vector-toc-level-2"> <a class="vector-toc-link" href="#Recusal"> <div class="vector-toc-text"> <span class="vector-toc-numb">7.4</span> <span>Recusal</span> </div> </a> <ul id="toc-Recusal-sublist" class="vector-toc-list"> </ul> </li> </ul> </li> <li id="toc-See_also" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#See_also"> <div class="vector-toc-text"> <span class="vector-toc-numb">8</span> <span>See also</span> </div> </a> <ul id="toc-See_also-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-References" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#References"> <div class="vector-toc-text"> <span class="vector-toc-numb">9</span> <span>References</span> </div> </a> <ul id="toc-References-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-Further_reading" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#Further_reading"> <div class="vector-toc-text"> <span class="vector-toc-numb">10</span> <span>Further reading</span> </div> </a> <ul id="toc-Further_reading-sublist" class="vector-toc-list"> </ul> </li> <li id="toc-External_links" class="vector-toc-list-item vector-toc-level-1"> <a class="vector-toc-link" href="#External_links"> <div class="vector-toc-text"> <span class="vector-toc-numb">11</span> <span>External links</span> </div> </a> <ul id="toc-External_links-sublist" class="vector-toc-list"> </ul> </li> </ul> </div> </div> </nav> </div> </div> <div class="mw-content-container"> <main id="content" class="mw-body"> <header class="mw-body-header vector-page-titlebar"> <nav aria-label="Contents" class="vector-toc-landmark"> <div id="vector-page-titlebar-toc" class="vector-dropdown vector-page-titlebar-toc vector-button-flush-left" > <input type="checkbox" id="vector-page-titlebar-toc-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-vector-page-titlebar-toc" class="vector-dropdown-checkbox " aria-label="Toggle the table of contents" > <label id="vector-page-titlebar-toc-label" for="vector-page-titlebar-toc-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--icon-only " aria-hidden="true" ><span class="vector-icon mw-ui-icon-listBullet mw-ui-icon-wikimedia-listBullet"></span> <span class="vector-dropdown-label-text">Toggle the table of contents</span> </label> <div class="vector-dropdown-content"> <div id="vector-page-titlebar-toc-unpinned-container" class="vector-unpinned-container"> </div> </div> </div> </nav> <h1 id="firstHeading" class="firstHeading mw-first-heading"><span class="mw-page-title-main">Conflict of interest</span></h1> <div id="p-lang-btn" class="vector-dropdown mw-portlet mw-portlet-lang" > <input type="checkbox" id="p-lang-btn-checkbox" role="button" aria-haspopup="true" data-event-name="ui.dropdown-p-lang-btn" class="vector-dropdown-checkbox mw-interlanguage-selector" aria-label="Go to an article in another language. Available in 45 languages" > <label id="p-lang-btn-label" for="p-lang-btn-checkbox" class="vector-dropdown-label cdx-button cdx-button--fake-button cdx-button--fake-button--enabled cdx-button--weight-quiet cdx-button--action-progressive mw-portlet-lang-heading-45" aria-hidden="true" ><span class="vector-icon mw-ui-icon-language-progressive mw-ui-icon-wikimedia-language-progressive"></span> <span class="vector-dropdown-label-text">45 languages</span> </label> <div class="vector-dropdown-content"> <div class="vector-menu-content"> <ul class="vector-menu-content-list"> <li class="interlanguage-link interwiki-ar mw-list-item"><a href="https://ar.wikipedia.org/wiki/%D8%AA%D8%B9%D8%A7%D8%B1%D8%B6_%D8%A7%D9%84%D9%85%D8%B5%D8%A7%D9%84%D8%AD" title="تعارض المصالح – Arabic" lang="ar" hreflang="ar" data-title="تعارض المصالح" data-language-autonym="العربية" data-language-local-name="Arabic" class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-az mw-list-item"><a href="https://az.wikipedia.org/wiki/Maraqlar%C4%B1n_toqqu%C5%9Fmas%C4%B1" title="Maraqların toqquşması – Azerbaijani" lang="az" hreflang="az" data-title="Maraqların toqquşması" data-language-autonym="Azərbaycanca" data-language-local-name="Azerbaijani" class="interlanguage-link-target"><span>Azərbaycanca</span></a></li><li class="interlanguage-link interwiki-azb mw-list-item"><a href="https://azb.wikipedia.org/wiki/%D9%85%D9%86%D9%81%D8%B9%D8%AA%D9%84%D8%B1_%D8%AA%D9%88%D9%82%D9%82%D9%88%D8%B4%D9%85%D8%A7%D8%B3%DB%8C" title="منفعتلر توققوشماسی – South Azerbaijani" lang="azb" hreflang="azb" data-title="منفعتلر توققوشماسی" data-language-autonym="تۆرکجه" data-language-local-name="South Azerbaijani" class="interlanguage-link-target"><span>تۆرکجه</span></a></li><li class="interlanguage-link interwiki-bg mw-list-item"><a href="https://bg.wikipedia.org/wiki/%D0%9A%D0%BE%D0%BD%D1%84%D0%BB%D0%B8%D0%BA%D1%82_%D0%BD%D0%B0_%D0%B8%D0%BD%D1%82%D0%B5%D1%80%D0%B5%D1%81%D0%B8" title="Конфликт на интереси – Bulgarian" lang="bg" hreflang="bg" data-title="Конфликт на интереси" data-language-autonym="Български" data-language-local-name="Bulgarian" class="interlanguage-link-target"><span>Български</span></a></li><li class="interlanguage-link interwiki-ca mw-list-item"><a href="https://ca.wikipedia.org/wiki/Conflicte_d%27interessos" title="Conflicte d'interessos – Catalan" lang="ca" hreflang="ca" data-title="Conflicte d'interessos" data-language-autonym="Català" data-language-local-name="Catalan" class="interlanguage-link-target"><span>Català</span></a></li><li class="interlanguage-link interwiki-cs mw-list-item"><a href="https://cs.wikipedia.org/wiki/St%C5%99et_z%C3%A1jm%C5%AF" title="Střet zájmů – Czech" lang="cs" hreflang="cs" data-title="Střet zájmů" data-language-autonym="Čeština" data-language-local-name="Czech" class="interlanguage-link-target"><span>Čeština</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Interessenkonflikt" title="Interessenkonflikt – German" lang="de" hreflang="de" data-title="Interessenkonflikt" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-et mw-list-item"><a href="https://et.wikipedia.org/wiki/Huvide_konflikt" title="Huvide konflikt – Estonian" lang="et" hreflang="et" data-title="Huvide konflikt" data-language-autonym="Eesti" data-language-local-name="Estonian" class="interlanguage-link-target"><span>Eesti</span></a></li><li class="interlanguage-link interwiki-el mw-list-item"><a href="https://el.wikipedia.org/wiki/%CE%A3%CF%8D%CE%B3%CE%BA%CF%81%CE%BF%CF%85%CF%83%CE%B7_%CF%83%CF%85%CE%BC%CF%86%CE%B5%CF%81%CF%8C%CE%BD%CF%84%CF%89%CE%BD_%CF%83%CF%84%CE%B9%CF%82_%CE%B4%CE%B7%CE%BC%CF%8C%CF%83%CE%B9%CE%B5%CF%82_%CF%83%CF%85%CE%BC%CE%B2%CE%AC%CF%83%CE%B5%CE%B9%CF%82" title="Σύγκρουση συμφερόντων στις δημόσιες συμβάσεις – Greek" lang="el" hreflang="el" data-title="Σύγκρουση συμφερόντων στις δημόσιες συμβάσεις" data-language-autonym="Ελληνικά" data-language-local-name="Greek" class="interlanguage-link-target"><span>Ελληνικά</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/Conflicto_de_inter%C3%A9s" title="Conflicto de interés – Spanish" lang="es" hreflang="es" data-title="Conflicto de interés" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/Interes_gatazka" title="Interes gatazka – Basque" lang="eu" hreflang="eu" data-title="Interes gatazka" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fa mw-list-item"><a href="https://fa.wikipedia.org/wiki/%D8%AA%D8%B9%D8%A7%D8%B1%D8%B6_%D9%85%D9%86%D8%A7%D9%81%D8%B9" title="تعارض منافع – Persian" lang="fa" hreflang="fa" data-title="تعارض منافع" data-language-autonym="فارسی" data-language-local-name="Persian" class="interlanguage-link-target"><span>فارسی</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/Conflit_d%27int%C3%A9r%C3%AAts" title="Conflit d'intérêts – French" lang="fr" hreflang="fr" data-title="Conflit d'intérêts" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-ko mw-list-item"><a href="https://ko.wikipedia.org/wiki/%EC%9D%B4%ED%95%B4%EC%B6%A9%EB%8F%8C" title="이해충돌 – Korean" lang="ko" hreflang="ko" data-title="이해충돌" data-language-autonym="한국어" data-language-local-name="Korean" class="interlanguage-link-target"><span>한국어</span></a></li><li class="interlanguage-link interwiki-hy mw-list-item"><a href="https://hy.wikipedia.org/wiki/%D5%80%D5%A5%D5%BF%D5%A1%D6%84%D6%80%D6%84%D6%80%D5%B8%D6%82%D5%A9%D5%B5%D5%B8%D6%82%D5%B6%D5%B6%D5%A5%D6%80%D5%AB_%D5%AF%D5%B8%D5%B6%D6%86%D5%AC%D5%AB%D5%AF%D5%BF" title="Հետաքրքրությունների կոնֆլիկտ – Armenian" lang="hy" hreflang="hy" data-title="Հետաքրքրությունների կոնֆլիկտ" data-language-autonym="Հայերեն" data-language-local-name="Armenian" class="interlanguage-link-target"><span>Հայերեն</span></a></li><li class="interlanguage-link interwiki-hi mw-list-item"><a href="https://hi.wikipedia.org/wiki/%E0%A4%B9%E0%A4%BF%E0%A4%A4_%E0%A4%A6%E0%A5%8D%E0%A4%B5%E0%A4%82%E0%A4%A6%E0%A5%8D%E0%A4%B5" title="हित द्वंद्व – Hindi" lang="hi" hreflang="hi" data-title="हित द्वंद्व" data-language-autonym="हिन्दी" data-language-local-name="Hindi" class="interlanguage-link-target"><span>हिन्दी</span></a></li><li class="interlanguage-link interwiki-hr mw-list-item"><a href="https://hr.wikipedia.org/wiki/Sukob_interesa" title="Sukob interesa – Croatian" lang="hr" hreflang="hr" data-title="Sukob interesa" data-language-autonym="Hrvatski" data-language-local-name="Croatian" class="interlanguage-link-target"><span>Hrvatski</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Konflik_kepentingan" title="Konflik kepentingan – Indonesian" lang="id" hreflang="id" data-title="Konflik kepentingan" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/Conflitto_di_interessi" title="Conflitto di interessi – Italian" lang="it" hreflang="it" data-title="Conflitto di interessi" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-he mw-list-item"><a href="https://he.wikipedia.org/wiki/%D7%A0%D7%99%D7%92%D7%95%D7%93_%D7%A2%D7%A0%D7%99%D7%99%D7%A0%D7%99%D7%9D" title="ניגוד עניינים – Hebrew" lang="he" hreflang="he" data-title="ניגוד עניינים" data-language-autonym="עברית" data-language-local-name="Hebrew" class="interlanguage-link-target"><span>עברית</span></a></li><li class="interlanguage-link interwiki-lt mw-list-item"><a href="https://lt.wikipedia.org/wiki/Interes%C5%B3_konfliktas" title="Interesų konfliktas – Lithuanian" lang="lt" hreflang="lt" data-title="Interesų konfliktas" data-language-autonym="Lietuvių" data-language-local-name="Lithuanian" class="interlanguage-link-target"><span>Lietuvių</span></a></li><li class="interlanguage-link interwiki-hu mw-list-item"><a href="https://hu.wikipedia.org/wiki/%C3%96sszef%C3%A9rhetetlens%C3%A9g_(jog)" title="Összeférhetetlenség (jog) – Hungarian" lang="hu" hreflang="hu" data-title="Összeférhetetlenség (jog)" data-language-autonym="Magyar" data-language-local-name="Hungarian" class="interlanguage-link-target"><span>Magyar</span></a></li><li class="interlanguage-link interwiki-ms mw-list-item"><a href="https://ms.wikipedia.org/wiki/Percanggahan_kepentingan" title="Percanggahan kepentingan – Malay" lang="ms" hreflang="ms" data-title="Percanggahan kepentingan" data-language-autonym="Bahasa Melayu" data-language-local-name="Malay" class="interlanguage-link-target"><span>Bahasa Melayu</span></a></li><li class="interlanguage-link interwiki-nl mw-list-item"><a href="https://nl.wikipedia.org/wiki/Belangenverstrengeling" title="Belangenverstrengeling – Dutch" lang="nl" hreflang="nl" data-title="Belangenverstrengeling" data-language-autonym="Nederlands" data-language-local-name="Dutch" class="interlanguage-link-target"><span>Nederlands</span></a></li><li class="interlanguage-link interwiki-ja mw-list-item"><a href="https://ja.wikipedia.org/wiki/%E5%88%A9%E7%9B%8A%E7%9B%B8%E5%8F%8D" title="利益相反 – Japanese" lang="ja" hreflang="ja" data-title="利益相反" data-language-autonym="日本語" data-language-local-name="Japanese" class="interlanguage-link-target"><span>日本語</span></a></li><li class="interlanguage-link interwiki-no mw-list-item"><a href="https://no.wikipedia.org/wiki/Interessekonflikt" title="Interessekonflikt – Norwegian Bokmål" lang="nb" hreflang="nb" data-title="Interessekonflikt" data-language-autonym="Norsk bokmål" data-language-local-name="Norwegian Bokmål" class="interlanguage-link-target"><span>Norsk bokmål</span></a></li><li class="interlanguage-link interwiki-pl mw-list-item"><a href="https://pl.wikipedia.org/wiki/Konflikt_interes%C3%B3w" title="Konflikt interesów – Polish" lang="pl" hreflang="pl" data-title="Konflikt interesów" data-language-autonym="Polski" data-language-local-name="Polish" class="interlanguage-link-target"><span>Polski</span></a></li><li class="interlanguage-link interwiki-pt mw-list-item"><a href="https://pt.wikipedia.org/wiki/Conflito_de_interesses" title="Conflito de interesses – Portuguese" lang="pt" hreflang="pt" data-title="Conflito de interesses" data-language-autonym="Português" data-language-local-name="Portuguese" class="interlanguage-link-target"><span>Português</span></a></li><li class="interlanguage-link interwiki-ro mw-list-item"><a href="https://ro.wikipedia.org/wiki/Conflict_de_interese" title="Conflict de interese – Romanian" lang="ro" hreflang="ro" data-title="Conflict de interese" data-language-autonym="Română" data-language-local-name="Romanian" class="interlanguage-link-target"><span>Română</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%9A%D0%BE%D0%BD%D1%84%D0%BB%D0%B8%D0%BA%D1%82_%D0%B8%D0%BD%D1%82%D0%B5%D1%80%D0%B5%D1%81%D0%BE%D0%B2" title="Конфликт интересов – Russian" lang="ru" hreflang="ru" data-title="Конфликт интересов" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-sq mw-list-item"><a href="https://sq.wikipedia.org/wiki/Konflikti_i_interesit" title="Konflikti i interesit – Albanian" lang="sq" hreflang="sq" data-title="Konflikti i interesit" data-language-autonym="Shqip" data-language-local-name="Albanian" class="interlanguage-link-target"><span>Shqip</span></a></li><li class="interlanguage-link interwiki-si mw-list-item"><a href="https://si.wikipedia.org/wiki/%E0%B6%85%E0%B6%B7%E0%B7%92%E0%B6%BD%E0%B7%8F%E0%B7%81_%E0%B6%85%E0%B6%AD%E0%B6%BB_%E0%B6%9C%E0%B7%90%E0%B6%A7%E0%B7%94%E0%B6%B8" title="අභිලාශ අතර ගැටුම – Sinhala" lang="si" hreflang="si" data-title="අභිලාශ අතර ගැටුම" data-language-autonym="සිංහල" data-language-local-name="Sinhala" class="interlanguage-link-target"><span>සිංහල</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/Conflict_of_interest" title="Conflict of interest – Simple English" lang="en-simple" hreflang="en-simple" data-title="Conflict of interest" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-sl mw-list-item"><a href="https://sl.wikipedia.org/wiki/Navzkri%C5%BEje_interesov" title="Navzkrižje interesov – Slovenian" lang="sl" hreflang="sl" data-title="Navzkrižje interesov" data-language-autonym="Slovenščina" data-language-local-name="Slovenian" class="interlanguage-link-target"><span>Slovenščina</span></a></li><li class="interlanguage-link interwiki-sr mw-list-item"><a href="https://sr.wikipedia.org/wiki/%D0%A1%D1%83%D0%BA%D0%BE%D0%B1_%D0%B8%D0%BD%D1%82%D0%B5%D1%80%D0%B5%D1%81%D0%B0" title="Сукоб интереса – Serbian" lang="sr" hreflang="sr" data-title="Сукоб интереса" data-language-autonym="Српски / srpski" data-language-local-name="Serbian" class="interlanguage-link-target"><span>Српски / srpski</span></a></li><li class="interlanguage-link interwiki-sh mw-list-item"><a href="https://sh.wikipedia.org/wiki/Sukob_interesa" title="Sukob interesa – Serbo-Croatian" lang="sh" hreflang="sh" data-title="Sukob interesa" data-language-autonym="Srpskohrvatski / српскохрватски" data-language-local-name="Serbo-Croatian" class="interlanguage-link-target"><span>Srpskohrvatski / српскохрватски</span></a></li><li class="interlanguage-link interwiki-fi mw-list-item"><a href="https://fi.wikipedia.org/wiki/Eturistiriita" title="Eturistiriita – Finnish" lang="fi" hreflang="fi" data-title="Eturistiriita" data-language-autonym="Suomi" data-language-local-name="Finnish" class="interlanguage-link-target"><span>Suomi</span></a></li><li class="interlanguage-link interwiki-sv mw-list-item"><a href="https://sv.wikipedia.org/wiki/Intressekonflikt" title="Intressekonflikt – Swedish" lang="sv" hreflang="sv" data-title="Intressekonflikt" data-language-autonym="Svenska" data-language-local-name="Swedish" class="interlanguage-link-target"><span>Svenska</span></a></li><li class="interlanguage-link interwiki-tl mw-list-item"><a href="https://tl.wikipedia.org/wiki/Salungat_na_interes" title="Salungat na interes – Tagalog" lang="tl" hreflang="tl" data-title="Salungat na interes" data-language-autonym="Tagalog" data-language-local-name="Tagalog" class="interlanguage-link-target"><span>Tagalog</span></a></li><li class="interlanguage-link interwiki-th mw-list-item"><a href="https://th.wikipedia.org/wiki/%E0%B8%81%E0%B8%B2%E0%B8%A3%E0%B8%82%E0%B8%B1%E0%B8%94%E0%B8%81%E0%B8%B1%E0%B8%99%E0%B9%81%E0%B8%AB%E0%B9%88%E0%B8%87%E0%B8%9C%E0%B8%A5%E0%B8%9B%E0%B8%A3%E0%B8%B0%E0%B9%82%E0%B8%A2%E0%B8%8A%E0%B8%99%E0%B9%8C" title="การขัดกันแห่งผลประโยชน์ – Thai" lang="th" hreflang="th" data-title="การขัดกันแห่งผลประโยชน์" data-language-autonym="ไทย" data-language-local-name="Thai" class="interlanguage-link-target"><span>ไทย</span></a></li><li class="interlanguage-link interwiki-tg mw-list-item"><a href="https://tg.wikipedia.org/wiki/%D0%91%D0%B0%D1%80%D1%85%D3%AF%D1%80%D0%B4%D0%B8_%D0%BC%D0%B0%D0%BD%D1%84%D0%B8%D0%B0%D1%82%D2%B3%D0%BE" title="Бархӯрди манфиатҳо – Tajik" lang="tg" hreflang="tg" data-title="Бархӯрди манфиатҳо" data-language-autonym="Тоҷикӣ" data-language-local-name="Tajik" class="interlanguage-link-target"><span>Тоҷикӣ</span></a></li><li class="interlanguage-link interwiki-tr mw-list-item"><a href="https://tr.wikipedia.org/wiki/%C3%87%C4%B1kar_%C3%A7at%C4%B1%C5%9Fmas%C4%B1" title="Çıkar çatışması – Turkish" lang="tr" hreflang="tr" data-title="Çıkar çatışması" data-language-autonym="Türkçe" data-language-local-name="Turkish" class="interlanguage-link-target"><span>Türkçe</span></a></li><li class="interlanguage-link interwiki-uk mw-list-item"><a href="https://uk.wikipedia.org/wiki/%D0%9A%D0%BE%D0%BD%D1%84%D0%BB%D1%96%D0%BA%D1%82_%D1%96%D0%BD%D1%82%D0%B5%D1%80%D0%B5%D1%81%D1%96%D0%B2" title="Конфлікт інтересів – Ukrainian" lang="uk" hreflang="uk" data-title="Конфлікт інтересів" data-language-autonym="Українська" data-language-local-name="Ukrainian" class="interlanguage-link-target"><span>Українська</span></a></li><li class="interlanguage-link interwiki-vi mw-list-item"><a href="https://vi.wikipedia.org/wiki/Xung_%C4%91%E1%BB%99t_l%E1%BB%A3i_%C3%ADch" title="Xung đột lợi ích – Vietnamese" lang="vi" hreflang="vi" data-title="Xung đột lợi ích" data-language-autonym="Tiếng Việt" data-language-local-name="Vietnamese" class="interlanguage-link-target"><span>Tiếng Việt</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%88%A9%E7%9B%8A%E8%A1%9D%E7%AA%81" title="利益衝突 – Chinese" lang="zh" hreflang="zh" data-title="利益衝突" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit wb-langlinks-link"><a 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<div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Situation when a party is involved in multiple interests</div> <style data-mw-deduplicate="TemplateStyles:r1236090951">.mw-parser-output .hatnote{font-style:italic}.mw-parser-output div.hatnote{padding-left:1.6em;margin-bottom:0.5em}.mw-parser-output .hatnote i{font-style:normal}.mw-parser-output .hatnote+link+.hatnote{margin-top:-0.5em}@media print{body.ns-0 .mw-parser-output .hatnote{display:none!important}}</style><div role="note" class="hatnote navigation-not-searchable">For other uses, see <a href="/wiki/Conflict_of_Interest_(disambiguation)" class="mw-disambig" title="Conflict of Interest (disambiguation)">Conflict of Interest (disambiguation)</a>.</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable selfref">For Wikipedia's guidelines regarding editing on topics with which one has an external relationship, see <a href="/wiki/Wikipedia:Conflict_of_interest" title="Wikipedia:Conflict of interest">Wikipedia:Conflict of interest</a>.</div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Vested_interest_(communication_theory)" title="Vested interest (communication theory)">Vested interest (communication theory)</a></div> <p>A <b>conflict of interest</b> (<b>COI</b>) is a situation in which a person or <a href="/wiki/Organization" title="Organization">organization</a> is involved in multiple <a href="https://en.wiktionary.org/wiki/interest#Noun" class="extiw" title="wikt:interest">interests</a>, <a href="/wiki/Finance" title="Finance">financial</a> or otherwise, and serving one interest could involve working against another. Typically, this relates to situations in which the personal interest of an individual or organization might adversely affect a duty owed to <a href="/wiki/Decision-making" title="Decision-making">make decisions</a> for the benefit of a third party. </p><p>An "interest" is a commitment, obligation, duty or goal associated with a particular social role or practice.<sup id="cite_ref-1" class="reference"><a href="#cite_note-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup> By definition, a "conflict of interest" occurs if, within a particular decision-making context, an individual is subject to two coexisting interests that are in direct conflict with each other. Such a matter is of importance because under such circumstances the decision-making process can be disrupted or compromised in a manner that affects the integrity or the reliability of the outcomes. </p><p>Typically, a conflict of interest arises when an individual finds themselves occupying two social roles simultaneously which generate opposing benefits or loyalties. The interests involved can be <a href="https://en.wiktionary.org/wiki/pecuniary" class="extiw" title="wikt:pecuniary">pecuniary</a> or non-pecuniary. The existence of such conflicts is an objective fact, not a state of mind, and does not in itself indicate any lapse or moral error. However, especially where a decision is being taken in a <a href="/wiki/Fiduciary" title="Fiduciary">fiduciary</a> context, it is important that the contending interests be clearly identified and the process for separating them is rigorously established. Typically, this will involve the conflicted individual either giving up one of the conflicting roles or else recusing themselves from the particular decision-making process in question. </p><p>The presence of a conflict of interest is independent of the occurrence of <a href="/wiki/Inappropriateness" title="Inappropriateness">inappropriateness</a>. Therefore, a conflict of interest can be discovered and voluntarily defused before any <a href="/wiki/Corruption" title="Corruption">corruption</a> occurs. A conflict of interest exists if the circumstances are reasonably believed (on the basis of past experience and objective evidence) to create a risk that a decision <i>may</i> be unduly influenced by other, secondary interests, and not on whether a particular individual <i>is actually</i> influenced by a secondary interest. </p><p>A widely used definition is: "A conflict of interest is a set of circumstances that creates a risk that professional judgement or actions regarding a primary interest will be unduly influenced by a secondary interest."<sup id="cite_ref-2" class="reference"><a href="#cite_note-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> <i>Primary interest</i> refers to the principal goals of the profession or activity, such as the protection of clients, the health of patients, the integrity of research, and the duties of public officers. <i>Secondary interest</i> includes personal benefit and is not limited to only financial gain but also such motives as the desire for professional advancement, or the wish to do favours for family and friends. These secondary interests are not treated as wrong in and of themselves, but become objectionable when they are believed to have greater weight than the primary interests. Conflict of interest rules in the public sphere mainly focus on financial relationships since they are relatively more objective, <a href="/wiki/Fungible" class="mw-redirect" title="Fungible">fungible</a>, and quantifiable, and usually involve the political, legal, and medical fields. </p> <style data-mw-deduplicate="TemplateStyles:r1244412712">.mw-parser-output .templatequote{overflow:hidden;margin:1em 0;padding:0 32px}.mw-parser-output .templatequotecite{line-height:1.5em;text-align:left;margin-top:0}@media(min-width:500px){.mw-parser-output .templatequotecite{padding-left:1.6em}}</style><blockquote class="templatequote"><p>A conflict of interest is a set of conditions in which professional judgment concerning a primary interest (such as a patient's welfare or the validity of research) tends to be unduly influenced by a secondary interest (such as financial gain). Conflict-of-interest rules [...] regulate the disclosure and avoidance of these conditions.</p><div class="templatequotecite">— <cite><a href="/wiki/Dennis_F._Thompson" title="Dennis F. Thompson">Dennis F. Thompson</a>, <i><a href="/wiki/The_New_England_Journal_of_Medicine" title="The New England Journal of Medicine">The New England Journal of Medicine</a></i>, 1993<sup id="cite_ref-3" class="reference"><a href="#cite_note-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup></cite></div></blockquote> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="In_the_practice_of_law">In the practice of law</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=1" title="Edit section: In the practice of law"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1129693374">.mw-parser-output .hlist dl,.mw-parser-output .hlist ol,.mw-parser-output .hlist ul{margin:0;padding:0}.mw-parser-output .hlist dd,.mw-parser-output .hlist dt,.mw-parser-output .hlist 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.sidebar-below{border-top:1px solid #aaa;border-bottom:1px solid #aaa}.mw-parser-output .sidebar-navbar{text-align:right;font-size:115%;padding:0 0.4em 0.4em}.mw-parser-output .sidebar-list-title{padding:0 0.4em;text-align:left;font-weight:bold;line-height:1.6em;font-size:105%}.mw-parser-output .sidebar-list-title-c{padding:0 0.4em;text-align:center;margin:0 3.3em}@media(max-width:640px){body.mediawiki .mw-parser-output .sidebar{width:100%!important;clear:both;float:none!important;margin-left:0!important;margin-right:0!important}}body.skin--responsive .mw-parser-output .sidebar a>img{max-width:none!important}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-night .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-list-title,html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle{background:transparent!important}html.skin-theme-clientpref-os .mw-parser-output .sidebar:not(.notheme) .sidebar-title-with-pretitle a{color:var(--color-progressive)!important}}@media print{body.ns-0 .mw-parser-output .sidebar{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1202158006">.mw-parser-output .law-sidebar .sidebar-heading{background:#aaddff;color:#000}.mw-parser-output .law-sidebar .sidebar-above{font-weight:normal}.mw-parser-output .law-sidebar .sidebar-below{padding:0.4em;border-top:1px #aaa solid;font-weight:normal;font-size:smaller}</style><table class="sidebar nomobile nowraplinks hlist law-sidebar"><tbody><tr><th class="sidebar-title"><a href="/wiki/Professional_responsibility" title="Professional responsibility">Professional responsibility</a></th></tr><tr><th class="sidebar-heading"> Duties to the client</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Duty_of_confidentiality" title="Duty of confidentiality">Confidentiality</a></li></ul> <ul><li>Avoiding <a class="mw-selflink selflink">conflict of interest</a></li></ul> <ul><li><a href="/wiki/Due_diligence" title="Due diligence">Due diligence</a> and <a href="/wiki/Competence_(law)" title="Competence (law)">Competence (law)</a></li></ul> <ul><li>Avoid <a href="/wiki/Commingling" title="Commingling">commingling</a></li></ul> <ul><li>Avoid <a href="/wiki/Self-dealing" title="Self-dealing">self-dealing</a></li></ul> <ul><li><a href="/wiki/Ineffective_assistance_of_counsel" title="Ineffective assistance of counsel">Effective assistance</a></li></ul> <ul><li>Avoid <a href="/wiki/Fee_splitting" title="Fee splitting">fee splitting</a></li></ul> <ul><li><a href="/wiki/Withdrawal_from_representation" title="Withdrawal from representation">Withdrawal from representation</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Duties to the court</th></tr><tr><td class="sidebar-content"> <ul><li>Disclosure of <a href="/wiki/Perjury" title="Perjury">perjury</a></li></ul> <ul><li>Disclosure of <a href="/wiki/Adverse_authority" title="Adverse authority">adverse authority</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Duties to the profession</th></tr><tr><td class="sidebar-content"> <ul><li>Limitations on <a href="/wiki/Legal_advertising" title="Legal advertising">legal advertising</a></li></ul> <ul><li><a href="/wiki/Duty_to_report_misconduct" title="Duty to report misconduct">Report misconduct</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Sources of law</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/American_Bar_Association_Model_Rules_of_Professional_Conduct" title="American Bar Association Model Rules of Professional Conduct">ABA Model Rules</a></li></ul></td> </tr><tr><th class="sidebar-heading"> Penalties for misconduct</th></tr><tr><td class="sidebar-content"> <ul><li><a href="/wiki/Disbarment" title="Disbarment">Disbarment</a></li> <li><a href="/wiki/Judicial_misconduct" title="Judicial misconduct">Judicial misconduct</a></li></ul></td> </tr><tr><td class="sidebar-navbar"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1239400231">.mw-parser-output .navbar{display:inline;font-size:88%;font-weight:normal}.mw-parser-output .navbar-collapse{float:left;text-align:left}.mw-parser-output .navbar-boxtext{word-spacing:0}.mw-parser-output .navbar ul{display:inline-block;white-space:nowrap;line-height:inherit}.mw-parser-output .navbar-brackets::before{margin-right:-0.125em;content:"[ "}.mw-parser-output .navbar-brackets::after{margin-left:-0.125em;content:" ]"}.mw-parser-output .navbar li{word-spacing:-0.125em}.mw-parser-output .navbar a>span,.mw-parser-output .navbar a>abbr{text-decoration:inherit}.mw-parser-output .navbar-mini abbr{font-variant:small-caps;border-bottom:none;text-decoration:none;cursor:inherit}.mw-parser-output .navbar-ct-full{font-size:114%;margin:0 7em}.mw-parser-output .navbar-ct-mini{font-size:114%;margin:0 4em}html.skin-theme-clientpref-night .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}@media(prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .navbar li a abbr{color:var(--color-base)!important}}@media print{.mw-parser-output .navbar{display:none!important}}</style><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Professional_responsibility" title="Template:Professional responsibility"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Professional_responsibility" title="Template talk:Professional responsibility"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Professional_responsibility" title="Special:EditPage/Template:Professional responsibility"><abbr title="Edit this template">e</abbr></a></li></ul></div></td></tr></tbody></table> <p>Conflicts of interest have been described as the most pervasive issue facing modern lawyers.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> Legal conflicts rules are at their core corollaries to a lawyer's two basic fiduciary duties: (1) the duty of loyalty and (2) the duty to preserve client confidences.<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup> The lawyer's duty of loyalty is fundamental to the attorney-client relationship and has developed from the biblical maxim that no person can serve more than one master.<sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup> Just as fundamental is the lawyer's duty to maintain client confidences, which protects clients' legitimate expectations that they can make full disclosure of all facts to their attorneys without fear of exposure.<sup id="cite_ref-7" class="reference"><a href="#cite_note-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup> </p><p>The basic formulation of the conflicts of interest rule is that a conflict exists "if there is a substantial risk that the lawyer's representation of the client would be materially and adversely affected by the lawyer's own interests or by the lawyers' duties to another current client, a former client, or a third person."<sup id="cite_ref-8" class="reference"><a href="#cite_note-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup> The duty of loyalty requires an attorney not to act directly adverse to an existing client, even on an unrelated matter where the lawyer has no client confidences.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> Such a loyalty conflict has been labeled a <i>concurrent</i> conflict of interest.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> The duty of confidentiality is protected in rules prohibiting so-called <i>successive</i> conflicts of interest, when a lawyer proposes to act adversely to the interests of a former client.<sup id="cite_ref-Conduct_r._1_1983_11-0" class="reference"><a href="#cite_note-Conduct_r._1_1983-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> A lawyer who has formerly represented a client in a matter is precluded from representing another person in the same or a substantially related matter that is materially adverse to the former client.<sup id="cite_ref-Conduct_r._1_1983_11-1" class="reference"><a href="#cite_note-Conduct_r._1_1983-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> These two basic formulations – that a lawyer may not act directly adverse to a current client or adverse to a former client on a substantially related matter – form the cornerstone of modern legal conflicts of interest rules.<sup id="cite_ref-Sisk,_et_al,_§4-7.1_at_357-58_12-0" class="reference"><a href="#cite_note-Sisk,_et_al,_§4-7.1_at_357-58-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Concurrent_conflicts_of_interest">Concurrent conflicts of interest</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=2" title="Edit section: Concurrent conflicts of interest"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading4"><h4 id="Direct_adversity_to_current_client">Direct adversity to current client</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=3" title="Edit section: Direct adversity to current client"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>An attorney owes the client undivided loyalty.<sup id="cite_ref-13" class="reference"><a href="#cite_note-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup> The courts have described this principle as "integral to the nature of an attorney's duty."<sup id="cite_ref-auto_14-0" class="reference"><a href="#cite_note-auto-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> Without undivided loyalty, irreparable damage may be done "to the existing client's sense of trust and security – features essential to the effective functioning of the fiduciary relationship…"<sup id="cite_ref-auto_14-1" class="reference"><a href="#cite_note-auto-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> A key feature of the duty of loyalty is that an attorney may not act directly adverse to a current client or represent a litigation adversary of the client in an unrelated matter.<sup id="cite_ref-15" class="reference"><a href="#cite_note-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> The damage done is to the client's confidence that the lawyer is serving their interests faithfully.<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> An example of a lawyer acting directly adverse to a client is when the lawyer sues the client.<sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup> At the other end of the spectrum is when a lawyer represents business competitors of the client who are not adverse to it in a lawsuit or negotiation. Representing business competitors of a client in unrelated matters does not constitute direct adversity nor give rise to a loyalty conflict.<sup id="cite_ref-18" class="reference"><a href="#cite_note-18"><span class="cite-bracket">[</span>18<span class="cite-bracket">]</span></a></sup> As one state bar ethics committee has noted: </p> <style data-mw-deduplicate="TemplateStyles:r1224211176">.mw-parser-output .quotebox{background-color:#F9F9F9;border:1px solid #aaa;box-sizing:border-box;padding:10px;font-size:88%;max-width:100%}.mw-parser-output .quotebox.floatleft{margin:.5em 1.4em .8em 0}.mw-parser-output .quotebox.floatright{margin:.5em 0 .8em 1.4em}.mw-parser-output .quotebox.centered{overflow:hidden;position:relative;margin:.5em auto .8em auto}.mw-parser-output .quotebox.floatleft span,.mw-parser-output .quotebox.floatright span{font-style:inherit}.mw-parser-output .quotebox>blockquote{margin:0;padding:0;border-left:0;font-family:inherit;font-size:inherit}.mw-parser-output .quotebox-title{text-align:center;font-size:110%;font-weight:bold}.mw-parser-output .quotebox-quote>:first-child{margin-top:0}.mw-parser-output .quotebox-quote:last-child>:last-child{margin-bottom:0}.mw-parser-output .quotebox-quote.quoted:before{font-family:"Times New Roman",serif;font-weight:bold;font-size:large;color:gray;content:" “ ";vertical-align:-45%;line-height:0}.mw-parser-output .quotebox-quote.quoted:after{font-family:"Times New Roman",serif;font-weight:bold;font-size:large;color:gray;content:" ” ";line-height:0}.mw-parser-output .quotebox .left-aligned{text-align:left}.mw-parser-output .quotebox .right-aligned{text-align:right}.mw-parser-output .quotebox .center-aligned{text-align:center}.mw-parser-output .quotebox .quote-title,.mw-parser-output .quotebox .quotebox-quote{display:block}.mw-parser-output .quotebox cite{display:block;font-style:normal}@media screen and (max-width:640px){.mw-parser-output .quotebox{width:100%!important;margin:0 0 .8em!important;float:none!important}}</style><div class="quotebox pullquote floatright" style=";"> <blockquote class="quotebox-quote left-aligned" style=""> <p>An attorney's representation of one client will often have indirect effects on other existing clients. For example, simultaneously representing business competitors on unrelated matters may indirectly impair the interests of each. It will be rare indeed when an attorney's representation of a client will not have numerous indirect adverse effects on others. Obtaining a benefit for a client will often mean disadvantaging another person or entity, and indirect consequences may follow to all who may be dependents or owners of the attorney's opponents. The attorney's duty of loyalty, however, extends only to adverse consequences on existing clients which are 'direct.'...Of the numerous and varied consequences which a representation of one client may have on other clients, well-established legal authority interpreting the duty of loyalty limits the scope of ethical inquiry to whether the other affected clients are parties to the case or transaction in which the attorney is acting. --California State Bar Ethics Opinion 1989-113. </p> </blockquote> </div> <p>Direct adversity may arise in litigation when an attorney sues a client or defends an adversary in an action their client has brought.<sup id="cite_ref-19" class="reference"><a href="#cite_note-19"><span class="cite-bracket">[</span>19<span class="cite-bracket">]</span></a></sup> It may also arise in the context of business negotiations, when a lawyer negotiates on behalf of an adversary against a current client, even if the matter is unrelated to any matter the lawyer is handling for the client.<sup id="cite_ref-20" class="reference"><a href="#cite_note-20"><span class="cite-bracket">[</span>20<span class="cite-bracket">]</span></a></sup> However, merely advocating opposite sides of the same legal issue does not give rise to direct adversity.<sup id="cite_ref-21" class="reference"><a href="#cite_note-21"><span class="cite-bracket">[</span>21<span class="cite-bracket">]</span></a></sup> Even if a lawyer's advocacy in an unrelated matter may make unfavorable law for another client, such effects are only indirect and not subject to the conflicts rules.<sup id="cite_ref-ReferenceA_22-0" class="reference"><a href="#cite_note-ReferenceA-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> There is no conflict in advocating positions that may turn out to be unfavorable to another client so long as the lawyer is not directly litigating or negotiating against that client.<sup id="cite_ref-ReferenceA_22-1" class="reference"><a href="#cite_note-ReferenceA-22"><span class="cite-bracket">[</span>22<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading5"><h5 id="Identity_of_the_client_-_corporations">Identity of the client - corporations</h5><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=4" title="Edit section: Identity of the client - corporations"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>One of the most frequently arising questions in corporate practice is whether parent corporations and their subsidiaries are to be treated as the same or different entities for conflicts purposes.<sup id="cite_ref-ReferenceB_23-0" class="reference"><a href="#cite_note-ReferenceB-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> The first authority to rule on this question was the California State Bar Ethics Committee, which issued a formal opinion ruling that parent corporations and their subsidiaries are to be considered distinct entities for conflicts purposes.<sup id="cite_ref-ReferenceB_23-1" class="reference"><a href="#cite_note-ReferenceB-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> The California committee considered a situation where an attorney undertook a representation directly adverse to the wholly owned subsidiary of a client, when the lawyer did not represent the subsidiary.<sup id="cite_ref-ReferenceB_23-2" class="reference"><a href="#cite_note-ReferenceB-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> Relying on the entity as client framework in Model Rule 1.13,<sup id="cite_ref-24" class="reference"><a href="#cite_note-24"><span class="cite-bracket">[</span>24<span class="cite-bracket">]</span></a></sup> the California committee opined that there was no conflict as long as the parent and subsidiary did not have a "sufficient unity of interests."<sup id="cite_ref-ReferenceB_23-3" class="reference"><a href="#cite_note-ReferenceB-23"><span class="cite-bracket">[</span>23<span class="cite-bracket">]</span></a></sup> The committee announced the following standard for evaluating the separateness of parent and subsidiary: </p> <blockquote class="quote-frame pullquote" style="font-size: 95%; padding: 0.5em 2em; background-color: var( --background-color-neutral-subtle, #f8f9fa ); color: var( --color-base, black ); border: 1px solid #aaa; display:table; float:none;"><div style="padding: 0.6em 1em;">In determining whether there is a sufficient unity of interests to require an attorney to disregard separate corporate entities for conflict purposes, the attorney should evaluate the separateness of the entities involved, whether corporate formalities are observed, the extent to which each entity has distinct and independent managements and board of directors, and whether, for legal purposes, one entity could be considered the alter ego of the other. -California State Bar Ethics Opinion 1989-113.</div></blockquote> <p>As one commentator has noted, "For a state ethics opinion, California Opinion 1989-113 has been unusually influential, both with courts there, with ethics committees elsewhere, and through the latter set of ethics committee opinions, with… recent decisions in other jurisdictions."<sup id="cite_ref-25" class="reference"><a href="#cite_note-25"><span class="cite-bracket">[</span>25<span class="cite-bracket">]</span></a></sup> The California opinion has been followed by ethics committees in such jurisdictions as New York, Illinois and the District of Columbia, and served as the basis of ABA Formal Ethics Opinion 95-390.<sup id="cite_ref-26" class="reference"><a href="#cite_note-26"><span class="cite-bracket">[</span>26<span class="cite-bracket">]</span></a></sup> The law in most jurisdictions is that parent corporations and their subsidiaries are treated as distinct entities, except in limited circumstances noted by the California ethics committee where they have a unity of interests.<sup id="cite_ref-27" class="reference"><a href="#cite_note-27"><span class="cite-bracket">[</span>27<span class="cite-bracket">]</span></a></sup> </p><p>The Second Circuit has adopted a variation of the California standard. In <i>GSI Commerce Solutions, Inc. v. BabyCenter LLC,</i><sup id="cite_ref-28" class="reference"><a href="#cite_note-28"><span class="cite-bracket">[</span>28<span class="cite-bracket">]</span></a></sup> the court ruled that parent corporations and their subsidiaries should be treated as the same entity for conflicts purposes when both companies rely "on the same in-house legal department to handle their legal affairs."<sup id="cite_ref-29" class="reference"><a href="#cite_note-29"><span class="cite-bracket">[</span>29<span class="cite-bracket">]</span></a></sup> However, the court ruled that the lawyer and client can contract around this default standard.<sup id="cite_ref-30" class="reference"><a href="#cite_note-30"><span class="cite-bracket">[</span>30<span class="cite-bracket">]</span></a></sup> The court quoted with approval the opinion of the City of New York Committee on Professional and Judicial Ethics, which stated, "corporate family conflicts may be averted by ... an engagement letter ... that delineates which affiliates, if any, of a corporate client the law firm represents..."<sup id="cite_ref-31" class="reference"><a href="#cite_note-31"><span class="cite-bracket">[</span>31<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading5"><h5 id="Material_limitation_conflicts">Material limitation conflicts</h5><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=5" title="Edit section: Material limitation conflicts"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A concurrent conflict will also exist when "there is a significant risk that the representation of one or more clients will be materially limited by the lawyer's responsibilities to another client, a former client or a third person or by a personal interest of the lawyer."<sup id="cite_ref-32" class="reference"><a href="#cite_note-32"><span class="cite-bracket">[</span>32<span class="cite-bracket">]</span></a></sup> Comment 8 to Model Rule 1.7 states, by way of example, that an attorney representing multiple persons forming a joint venture may be materially limited in recommending the courses of action that any jointly represented client may take because of the lawyer's duty to the other participants in the joint venture.<sup id="cite_ref-33" class="reference"><a href="#cite_note-33"><span class="cite-bracket">[</span>33<span class="cite-bracket">]</span></a></sup> </p><p>The <a href="/wiki/Supreme_Court_of_Minnesota" class="mw-redirect" title="Supreme Court of Minnesota">Supreme Court of Minnesota</a> found a material limitation conflict in <i>In re Petition for Disciplinary Action Against Christopher Thomas Kalla.</i><sup id="cite_ref-34" class="reference"><a href="#cite_note-34"><span class="cite-bracket">[</span>34<span class="cite-bracket">]</span></a></sup> In <i>Kalla,</i> an attorney was disciplined for representing a borrower bringing suit against her lender for charging a usurious interest rate while simultaneously representing the mortgage broker who arranged the loan as a third party defendant in the same lawsuit. Although neither client had brought an action against the other, the court found a material limitation conflict: "Advocating for Client A would potentially harm Client B, who was potentially liable for contribution. Kalla's ability to fully advocate for both was materially limited by Kalla's dual representation."<sup id="cite_ref-35" class="reference"><a href="#cite_note-35"><span class="cite-bracket">[</span>35<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading4"><h4 id="Consent_to_concurrent_conflicts_of_interest">Consent to concurrent conflicts of interest</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=6" title="Edit section: Consent to concurrent conflicts of interest"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading5"><h5 id="Consent_to_current_conflicts">Consent to current conflicts</h5><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=7" title="Edit section: Consent to current conflicts"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A concurrent conflict of interest may be resolved if four conditions are met. They are: </p> <ol><li>the lawyer reasonably believes that the lawyer will be able to provide competent and diligent representation to each affected client;</li> <li>the representation is not prohibited by law;</li> <li>the representation does not involve the assertion of a claim by one client against another client represented by the lawyer in the same litigation or other proceeding before a tribunal; and</li> <li>each affected client gives informed consent, confirmed in writing.<sup id="cite_ref-36" class="reference"><a href="#cite_note-36"><span class="cite-bracket">[</span>36<span class="cite-bracket">]</span></a></sup></li></ol> <p>Informed consent requires that each affected client be fully advised about the material ways that the representation could adversely affect that client.<sup id="cite_ref-37" class="reference"><a href="#cite_note-37"><span class="cite-bracket">[</span>37<span class="cite-bracket">]</span></a></sup> In joint representations, the information provided should include the interests of the lawyer and other affected client, the courses of action that could be foreclosed due to the joint representation, the potential danger that the client's confidential information might be disclosed, and the potential consequences if the lawyer had to withdraw at a later stage in the proceedings.<sup id="cite_ref-38" class="reference"><a href="#cite_note-38"><span class="cite-bracket">[</span>38<span class="cite-bracket">]</span></a></sup> Merely telling the client that there are conflicts, without further explanation, is not adequate disclosure.<sup id="cite_ref-auto1_39-0" class="reference"><a href="#cite_note-auto1-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> The lawyer must fully disclose the potential impairment to the lawyer's loyalty and explain how another unconflicted attorney might better serve the client's interests.<sup id="cite_ref-auto1_39-1" class="reference"><a href="#cite_note-auto1-39"><span class="cite-bracket">[</span>39<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading5"><h5 id="Prospective_consent_to_future_conflicts">Prospective consent to future conflicts</h5><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=8" title="Edit section: Prospective consent to future conflicts"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>It is not unusual in the current legal environment of large multinational and global law firms for the firms to seek advance or prospective waivers of future conflicts from their clients.<sup id="cite_ref-ReferenceD_40-0" class="reference"><a href="#cite_note-ReferenceD-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> A law firm is particularly likely to seek a prospective waiver when a large corporation seeks the specialized knowledge of the firm in a small matter, without a high likelihood of repeat business.<sup id="cite_ref-ReferenceD_40-1" class="reference"><a href="#cite_note-ReferenceD-40"><span class="cite-bracket">[</span>40<span class="cite-bracket">]</span></a></sup> As the ABA stated in its Ethics Opinion 93-372: </p> <blockquote class="quote-frame pullquote" style="font-size: 95%; padding: 0.5em 2em; background-color: var( --background-color-neutral-subtle, #f8f9fa ); color: var( --color-base, black ); border: 1px solid #aaa; display:table; float:none;"><div style="padding: 0.6em 1em;">when corporate clients with multiple operating divisions hire tens if not hundreds of law firms, the idea that, for example, a corporation in Miami retaining the Florida office of a national law firm to negotiate a lease should preclude that firm's New York office from taking an adverse position in a totally unrelated commercial dispute against another division of the same corporation strikes some as placing unreasonable limitations on the opportunities of both clients and lawyers. -ABA Formal Opinion 93-372 (1993).</div></blockquote> <p>Prospective waivers are most likely to be upheld by the courts when they are given by sophisticated corporate clients represented by independent counsel in the negotiation of the waiver.<sup id="cite_ref-41" class="reference"><a href="#cite_note-41"><span class="cite-bracket">[</span>41<span class="cite-bracket">]</span></a></sup> However, in <i>Sheppard, Mullin, Richter & Hampton, LLP v. J-M Manufacturing Co.</i>,<sup id="cite_ref-42" class="reference"><a href="#cite_note-42"><span class="cite-bracket">[</span>42<span class="cite-bracket">]</span></a></sup> the California Supreme court held that a prospective waiver that did not make specific disclosure of an actual current conflict was not effective to waive that conflict.<sup id="cite_ref-43" class="reference"><a href="#cite_note-43"><span class="cite-bracket">[</span>43<span class="cite-bracket">]</span></a></sup> As the court said, </p> <blockquote class="quote-frame pullquote" style="font-size: 95%; padding: 0.5em 2em; background-color: var( --background-color-neutral-subtle, #f8f9fa ); color: var( --color-base, black ); border: 1px solid #aaa; display:table; float:none;"><div style="padding: 0.6em 1em;">By asking J-M to waive current conflicts as well as future ones, Sheppard Mullin did put J-M on notice that a current conflict might exist. But by failing to disclose to J-M the fact that a current conflict actually existed, the law firm failed to disclose to its client all the 'relevant circumstances' within its knowledge relating to its representation of J-M. 6 Cal. 5th 59 (2018) at p. 84.</div></blockquote> <p>The <i>Sheppard Mullin</i> case does not invalidate prospective waivers in California.<sup id="cite_ref-auto2_44-0" class="reference"><a href="#cite_note-auto2-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> It only holds that waivers of current and actual conflicts must specifically disclose those conflicts, an unremarkable conclusion.<sup id="cite_ref-auto2_44-1" class="reference"><a href="#cite_note-auto2-44"><span class="cite-bracket">[</span>44<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading5"><h5 id="The_hot_potato_doctrine">The hot potato doctrine</h5><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=9" title="Edit section: The hot potato doctrine"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>If a client will not consent to a conflict and allow a lawyer to take on another representation, the lawyer cannot then withdraw from the existing representation, thus turning the existing client into a former client and ending the duty of loyalty.<sup id="cite_ref-45" class="reference"><a href="#cite_note-45"><span class="cite-bracket">[</span>45<span class="cite-bracket">]</span></a></sup> As the courts have stated, the lawyer cannot "drop a client like a hot potato" to cure a conflict.<sup id="cite_ref-46" class="reference"><a href="#cite_note-46"><span class="cite-bracket">[</span>46<span class="cite-bracket">]</span></a></sup> This label has stuck, and the doctrine is now aptly called the "hot potato" doctrine.<sup id="cite_ref-47" class="reference"><a href="#cite_note-47"><span class="cite-bracket">[</span>47<span class="cite-bracket">]</span></a></sup> However, as one commentator has pointed out, the reasoning underlying this line of cases has been sparse, and few courts have attempted to justify this result through an analysis of the ethics rules.<sup id="cite_ref-48" class="reference"><a href="#cite_note-48"><span class="cite-bracket">[</span>48<span class="cite-bracket">]</span></a></sup> The unstated rationale behind the Hot Potato doctrine is that a withdrawal attempted without good cause under Model Rule 1.16(b) is an ineffective withdrawal, which does not successfully terminate the existing attorney-client relationship.<sup id="cite_ref-49" class="reference"><a href="#cite_note-49"><span class="cite-bracket">[</span>49<span class="cite-bracket">]</span></a></sup> When viewed in this light, a withdrawal accomplished with good cause should be an effective withdrawal that does permit a lawyer to take on a representation that would otherwise be conflicting, as long as there is no substantial relationship with the prior matter.<sup id="cite_ref-50" class="reference"><a href="#cite_note-50"><span class="cite-bracket">[</span>50<span class="cite-bracket">]</span></a></sup> The standard used to assess conflicts involving such former clients will be discussed in the next section. </p> <div class="mw-heading mw-heading4"><h4 id="Successive_conflicts_of_interest">Successive conflicts of interest</h4><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=10" title="Edit section: Successive conflicts of interest"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading5"><h5 id="The_substantial_relationship_test">The substantial relationship test</h5><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=11" title="Edit section: The substantial relationship test"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Conflicts of interest rules involving former clients are primarily designed to enforce the attorney's duty to preserve a client's confidential information.<sup id="cite_ref-Sisk,_et_al,_§4-7.1_at_357-58_12-1" class="reference"><a href="#cite_note-Sisk,_et_al,_§4-7.1_at_357-58-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> Model Rule 1.9(a) sets forth this doctrine in a rule that has come to be known as the substantial relationship test. The rule states: </p> <blockquote class="quote-frame pullquote" style="font-size: 95%; padding: 0.5em 2em; background-color: var( --background-color-neutral-subtle, #f8f9fa ); color: var( --color-base, black ); border: 1px solid #aaa; display:table; float:none;"><div style="padding: 0.6em 1em;">A lawyer who has formerly represented a client in a matter shall not thereafter represent another person in the same or a substantially related matter in which that person's interests are materially adverse to the interests of the former client unless the former client gives informed consent, confirmed in writing. -MODEL RULES OF PROF'L CONDUCT r. 1.9(a).</div></blockquote> <p>Without the substantial relationship test, a client attempting to prove that its former lawyer possesses its confidential information might have to disclose publicly the very confidential information it is trying to protect.<sup id="cite_ref-Richard_C._Solomon_2017_51-0" class="reference"><a href="#cite_note-Richard_C._Solomon_2017-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> The substantial relationship test was designed to protect against such disclosures.<sup id="cite_ref-Richard_C._Solomon_2017_51-1" class="reference"><a href="#cite_note-Richard_C._Solomon_2017-51"><span class="cite-bracket">[</span>51<span class="cite-bracket">]</span></a></sup> Under this test, the attorney's possession of the former client's confidential information is presumed if "confidential information material to the current dispute would normally have been imparted to the attorney by virtue of the nature of the former representation."<sup id="cite_ref-52" class="reference"><a href="#cite_note-52"><span class="cite-bracket">[</span>52<span class="cite-bracket">]</span></a></sup> The substantial relationship test reconstructs whether confidential information was likely to be imparted by the former client to the lawyer by analyzing "the similarities between the two factual situations, the legal questions posed, and the nature and extent of the attorney's involvement with the cases."<sup id="cite_ref-53" class="reference"><a href="#cite_note-53"><span class="cite-bracket">[</span>53<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading5"><h5 id="Imputation_of_conflicts">Imputation of conflicts</h5><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=12" title="Edit section: Imputation of conflicts"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The conflicts of an individual lawyer are imputed to all attorneys who "are associated with that lawyer in rendering legal services to others through a law partnership, professional corporation, sole proprietorship, or similar association."<sup id="cite_ref-54" class="reference"><a href="#cite_note-54"><span class="cite-bracket">[</span>54<span class="cite-bracket">]</span></a></sup> This imputation of conflicts can lead to difficulties when attorneys from one law firm leave and join another firm. The issue then arises whether the conflicts of the itinerant lawyer's former firm are imputed to their new firm. </p><p>In <i>Kirk v. First American Title Co.,</i><sup id="cite_ref-55" class="reference"><a href="#cite_note-55"><span class="cite-bracket">[</span>55<span class="cite-bracket">]</span></a></sup> the court ruled that an itinerant lawyer's conflicts are not imputed to their new law firm if that firm timely sets up an effective ethics screen preventing the lawyers from imparting any confidential information to the lawyers in the new firm.<sup id="cite_ref-56" class="reference"><a href="#cite_note-56"><span class="cite-bracket">[</span>56<span class="cite-bracket">]</span></a></sup> An effective ethics screen rebuts the presumption that the itinerant lawyers shared confidential information with the lawyers in the new firm.<sup id="cite_ref-57" class="reference"><a href="#cite_note-57"><span class="cite-bracket">[</span>57<span class="cite-bracket">]</span></a></sup> The components of an effective ethics screen, as described by the court in <i>Kirk,</i> are: </p> <ol><li>physical, geographic, and departmental separation of attorneys;</li> <li>prohibitions against and sanctions for discussing confidential matters;</li> <li>established rules and procedures preventing access to confidential information and files;</li> <li>procedures preventing a disqualified attorney from sharing in the profits from the representation;</li> <li>continuing education in professional responsibility.<sup id="cite_ref-58" class="reference"><a href="#cite_note-58"><span class="cite-bracket">[</span>58<span class="cite-bracket">]</span></a></sup></li></ol> <p><a href="/wiki/Judicial_disqualification" class="mw-redirect" title="Judicial disqualification">Judicial disqualification</a>, also referred to as <i>recusal</i>, refers to the act of abstaining from participation in an official action such as a court case/legal proceeding due to a conflict of interest of the <a href="/wiki/Judge" title="Judge">presiding court official</a> or administrative officer.<sup id="cite_ref-59" class="reference"><a href="#cite_note-59"><span class="cite-bracket">[</span>59<span class="cite-bracket">]</span></a></sup> Applicable statutes or canons of <a href="/wiki/Ethics" title="Ethics">ethics</a> may provide standards for recusal in a given proceeding or matter. Providing that the judge or presiding officer must be free from disabling conflicts of interest makes the fairness of the proceedings less likely to be questioned.<sup id="cite_ref-RepublicLost_60-0" class="reference"><a href="#cite_note-RepublicLost-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> </p><p>In the <a href="/wiki/Practice_of_law" title="Practice of law">practice of law</a>, the duty of loyalty owed to a client prohibits an attorney (or a <a href="/wiki/Law_firm" title="Law firm">law firm</a>) from representing any other party with interests adverse to those of a current client. The few exceptions to this rule require informed written consent from all affected clients, <i>i.e.</i>, an "ethical wall". In some circumstances, a conflict of interest can never be waived by a client. In perhaps the most common example encountered by the general public, the same firm should not represent both parties in a divorce or child custody matter. Found conflict can lead to denial or <a href="/wiki/Disgorgement" title="Disgorgement">disgorgement</a> of legal fees, or in some cases (such as the failure to make mandatory disclosure), criminal proceedings. In 1998, a <a href="/wiki/Milbank,_Tweed,_Hadley_%26_McCloy" class="mw-redirect" title="Milbank, Tweed, Hadley & McCloy">Milbank, Tweed, Hadley & McCloy</a> partner was found guilty of failing to disclose a conflict of interest, disbarred, and sentenced to 15 months of imprisonment.<sup id="cite_ref-61" class="reference"><a href="#cite_note-61"><span class="cite-bracket">[</span>61<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-62" class="reference"><a href="#cite_note-62"><span class="cite-bracket">[</span>62<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-63" class="reference"><a href="#cite_note-63"><span class="cite-bracket">[</span>63<span class="cite-bracket">]</span></a></sup> In the United States, a law firm usually cannot represent a client if the client's interests conflict with those of another client, even if the two clients are represented by separate lawyers within the firm, unless (in some jurisdictions) the lawyer is segregated from the rest of the firm for the duration of the conflict. Law firms often employ software in conjunction with their case management and accounting systems in order to meet their duties to monitor their conflict of interest exposure and to assist in obtaining waivers.<sup id="cite_ref-64" class="reference"><a href="#cite_note-64"><span class="cite-bracket">[</span>64<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Outside_of_the_practice_of_law">Outside of the practice of law</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=13" title="Edit section: Outside of the practice of law"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>More generally, conflicts of interest can be defined as any situation in which an individual or corporation (either private or governmental) is in a position to exploit a professional or official capacity in some way for their personal or corporate benefit.<sup id="cite_ref-:0_65-0" class="reference"><a href="#cite_note-:0-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> </p><p>Depending upon the law or rules related to a particular organization, the existence of a conflict of interest may not, in and of itself, be evidence of wrongdoing. In fact, for many professionals, it is virtually impossible to avoid having conflicts of interest from time to time. A conflict of interest can, however, become a legal matter, for example, when an individual tries (and/or succeeds in) influencing the outcome of a decision, for personal benefit. A director or executive of a corporation will be subject to legal liability if a conflict of interest breaches his/her <a href="/wiki/Duty_of_loyalty" title="Duty of loyalty">duty of loyalty</a>.<sup id="cite_ref-:0_65-1" class="reference"><a href="#cite_note-:0-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> </p><p>There often is confusion over these two situations. Someone accused of a conflict of interest may deny that a conflict exists because he/she did not act improperly. In fact, a conflict of interest can exist even if there are no improper acts as a result of it. (One way to understand this is to use the term "conflict of roles". A person with two roles—an individual who owns <a href="/wiki/Capital_stock" class="mw-redirect" title="Capital stock">stock</a> and is also a <a href="/wiki/Government" title="Government">government</a> official, for example—may experience situations where those two roles conflict. The conflict can be mitigated—see below—but it still exists. In and of itself, having two roles is not illegal, but the differing roles will certainly provide an incentive for improper acts in some circumstances.)<sup id="cite_ref-:0_65-2" class="reference"><a href="#cite_note-:0-65"><span class="cite-bracket">[</span>65<span class="cite-bracket">]</span></a></sup> </p><p>As an example, in the sphere of business and control, according to the <a href="/wiki/Institute_of_Internal_Auditors" title="Institute of Internal Auditors">Institute of Internal Auditors</a>: </p> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1244412712"><blockquote class="templatequote"><p><b>conflict of interest</b> is a situation in which an <a href="/wiki/Internal_auditor" title="Internal auditor">internal auditor</a>, who is in a position of trust, has a competing professional or personal interest. Such competing interests can make it difficult to fulfil his lor her duties impartially. A conflict of interest exists even if no <a href="/wiki/Unethical" class="mw-redirect" title="Unethical">unethical</a> or improper act results. A conflict of interest can create an appearance of impropriety that can undermine confidence in the internal <a href="/wiki/Auditor" title="Auditor">auditor</a>, the <a href="/wiki/Internal_audit" title="Internal audit">internal audit</a> activity, and the profession. A conflict of interest could impair an individual's ability to perform his or her duties and responsibilities objectively.<sup id="cite_ref-theiia_coi_definition_66-0" class="reference"><a href="#cite_note-theiia_coi_definition-66"><span class="cite-bracket">[</span>66<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-ccsf_coi_definition_67-0" class="reference"><a href="#cite_note-ccsf_coi_definition-67"><span class="cite-bracket">[</span>67<span class="cite-bracket">]</span></a></sup></p></blockquote> <p>A few examples of conflict of interest are:<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p> <ul><li>When a member of the commissioners of a state highway commission owns a piece of property where the state will have to condemn it. The conflict of interest comes in because the commission will want to acquire the property at the lowest possible price (subject to it being at least fair market value) while as the property owner, they will want the highest possible price they can get.</li> <li>When an officer or director of a corporation owns a patent or copyright which either was developed before they were involved with the corporation (which means it cannot be subject to a contractual right of assignment or work for hire) or that it was developed for a type of product not related to the scope of their employment. As author or inventor, they are going to want a large license fee or royalty, while as an officer of the corporation they are expected to offer as little as possible.</li> <li>A judge deciding a bench trial or arbitrator in binding arbitration must not decide a case where a relative, acquaintance, or business partner is a party. Because they may give overly favorable terms to that party, or where they might impose excessively harsh terms (such as a judge having their estranged child, parent, or ex-spouse as a criminal defendant being sentenced before them.)</li></ul> <div class="mw-heading mw-heading2"><h2 id="Organizational">Organizational</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=14" title="Edit section: Organizational"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">See also: <a href="/wiki/Accountability#Organizational" title="Accountability">Accountability § Organizational</a></div> <p>An organizational conflict of interest (OCI) may exist in the same way as described above, for instance where a corporation provides two types of service to the government and these services conflict (e.g.: manufacturing parts and then participating in a selection committee comparing parts manufacturers).<sup id="cite_ref-68" class="reference"><a href="#cite_note-68"><span class="cite-bracket">[</span>68<span class="cite-bracket">]</span></a></sup> Corporations may develop simple or complex systems to mitigate the risk or perceived risk of a conflict of interest. These risks can be evaluated by a government agency (for example, in a U.S. Government <a href="/wiki/RFP" class="mw-redirect" title="RFP">RFP</a>) to determine whether the risks create a substantial advantage to the organization in question over its competition, or will decrease the overall competitiveness of the bidding process.<sup id="cite_ref-69" class="reference"><a href="#cite_note-69"><span class="cite-bracket">[</span>69<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Conflict_of_interest_in_the_health_care_industry">Conflict of interest in the health care industry</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=15" title="Edit section: Conflict of interest in the health care industry"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Conflict_of_interest_in_the_health_care_industry" class="mw-redirect" title="Conflict of interest in the health care industry">Conflict of interest in the health care industry</a></div> <p>The influence of the <a href="/wiki/Pharmaceutical_industry" title="Pharmaceutical industry">pharmaceutical industry</a> on medical research has been a major cause for concern. In 2009 a study found that "a significant number of academic institutions" do not have clear guidelines for relationships between Institutional Review Boards and industry.<sup id="cite_ref-70" class="reference"><a href="#cite_note-70"><span class="cite-bracket">[</span>70<span class="cite-bracket">]</span></a></sup> The <a href="/wiki/Medical%E2%80%93industrial_complex" title="Medical–industrial complex">medical-industrial complex</a> describes the interaction between physician's conflict of interest with <a href="/wiki/For-profit_hospital" title="For-profit hospital">for-profit healthcare</a>, <a href="/wiki/Continuing_medical_education" title="Continuing medical education">continuing medical education</a>, and patient's ethical considerations.<sup id="cite_ref-71" class="reference"><a href="#cite_note-71"><span class="cite-bracket">[</span>71<span class="cite-bracket">]</span></a></sup> </p><p>In contrast to this viewpoint, an article and associated editorial in the <i><a href="/wiki/New_England_Journal_of_Medicine" class="mw-redirect" title="New England Journal of Medicine">New England Journal of Medicine</a></i> in May 2015<sup id="cite_ref-72" class="reference"><a href="#cite_note-72"><span class="cite-bracket">[</span>72<span class="cite-bracket">]</span></a></sup> emphasized the importance of pharmaceutical industry-physician interactions for the development of novel treatments, and argued that moral outrage over industry malfeasance had unjustifiably led many to overemphasize the problems created by financial conflicts of interest. The article noted that major healthcare organizations such as the National Center for Advancing Translational Sciences of the National Institutes of Health, the <a href="/wiki/President%27s_Council_of_Advisors_on_Science_and_Technology" title="President's Council of Advisors on Science and Technology">President's Council of Advisors on Science and Technology</a>, the World Economic Forum, the Gates Foundation, the Wellcome Trust, and the Food and Drug Administration had encouraged greater interactions between physicians and industry in order to bring greater benefits to patients.<sup id="cite_ref-73" class="reference"><a href="#cite_note-73"><span class="cite-bracket">[</span>73<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Types">Types</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=16" title="Edit section: Types"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The following are the most common forms of conflicts of interests:<sup id="cite_ref-74" class="reference"><a href="#cite_note-74"><span class="cite-bracket">[</span>74<span class="cite-bracket">]</span></a></sup> </p> <ul><li><a href="/wiki/Self-dealing" title="Self-dealing">Self-dealing</a>, in which an official who controls an organization causes it to enter into a transaction with the official, or with another organization that benefits the official only. The official is on both sides of the "deal."</li> <li>Outside employment, in which the interests of one job conflict with another.</li> <li><a href="/wiki/Nepotism" title="Nepotism">Nepotism</a>, in which a spouse, child, or other close relative is employed (or applies for employment) by an individual, or where goods or services are purchased from a relative or from a firm controlled by a relative. To avoid nepotism in hiring, many employment applications ask if the applicant is related to a current employee of the company. This allows recusal if the employed relative has a role in the hiring process. If this is the case, the relative could then recuse from any hiring decisions.</li> <li>Gifts from friends who also do business with the person receiving the gifts or from individuals or corporations who do business with the organization in which the gift recipient is employed. Such gifts may include non-tangible things of value such as transportation and lodging.</li> <li>Pump and dump, in which a stockbroker who owns a security artificially inflates the price by "upgrading" it or spreading rumors, sells the security and adds <a href="/wiki/Short_(finance)" title="Short (finance)">short position</a>, then "downgrades" the security or spreads negative rumors to push the price down.</li></ul> <p>Other improper acts that are sometimes classified as conflicts of interest may have a better classification. For example, accepting <a href="/wiki/Bribe" class="mw-redirect" title="Bribe">bribes</a> can be classified as corruption, use of government or corporate property or assets for personal use is <a href="/wiki/Fraud" title="Fraud">fraud</a>, and unauthorized distribution of confidential information is a <a href="/wiki/Security_breach" class="mw-redirect" title="Security breach">security breach</a>. For these improper acts, there is no inherent conflict.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p><p><span class="anchor" id="Competition_of_interest"></span> COI is sometimes termed <b>competition of interest</b> rather than "conflict", emphasizing a <a href="/wiki/Connotation" title="Connotation">connotation</a> of natural <a href="/wiki/Competition" title="Competition">competition</a> between valid interests—rather than the classical definition of conflict, which would include by definition including a victim and unfair aggression. Nevertheless, this <a href="/wiki/Denotation" title="Denotation">denotation</a> of conflict of interest is not generally seen.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="Examples">Examples</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=17" title="Edit section: Examples"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1251242444">.mw-parser-output .ambox{border:1px solid #a2a9b1;border-left:10px solid #36c;background-color:#fbfbfb;box-sizing:border-box}.mw-parser-output .ambox+link+.ambox,.mw-parser-output .ambox+link+style+.ambox,.mw-parser-output .ambox+link+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+style+.ambox,.mw-parser-output .ambox+.mw-empty-elt+link+link+.ambox{margin-top:-1px}html body.mediawiki .mw-parser-output .ambox.mbox-small-left{margin:4px 1em 4px 0;overflow:hidden;width:238px;border-collapse:collapse;font-size:88%;line-height:1.25em}.mw-parser-output .ambox-speedy{border-left:10px solid #b32424;background-color:#fee7e6}.mw-parser-output .ambox-delete{border-left:10px solid #b32424}.mw-parser-output .ambox-content{border-left:10px solid #f28500}.mw-parser-output .ambox-style{border-left:10px solid #fc3}.mw-parser-output .ambox-move{border-left:10px solid #9932cc}.mw-parser-output .ambox-protection{border-left:10px solid #a2a9b1}.mw-parser-output .ambox .mbox-text{border:none;padding:0.25em 0.5em;width:100%}.mw-parser-output .ambox .mbox-image{border:none;padding:2px 0 2px 0.5em;text-align:center}.mw-parser-output .ambox .mbox-imageright{border:none;padding:2px 0.5em 2px 0;text-align:center}.mw-parser-output .ambox .mbox-empty-cell{border:none;padding:0;width:1px}.mw-parser-output .ambox .mbox-image-div{width:52px}@media(min-width:720px){.mw-parser-output .ambox{margin:0 10%}}@media print{body.ns-0 .mw-parser-output .ambox{display:none!important}}</style><style data-mw-deduplicate="TemplateStyles:r1248332772">.mw-parser-output .multiple-issues-text{width:95%;margin:0.2em 0}.mw-parser-output .multiple-issues-text>.mw-collapsible-content{margin-top:0.3em}.mw-parser-output .compact-ambox .ambox{border:none;border-collapse:collapse;background-color:transparent;margin:0 0 0 1.6em!important;padding:0!important;width:auto;display:block}body.mediawiki .mw-parser-output .compact-ambox .ambox.mbox-small-left{font-size:100%;width:auto;margin:0}.mw-parser-output .compact-ambox .ambox .mbox-text{padding:0!important;margin:0!important}.mw-parser-output .compact-ambox .ambox .mbox-text-span{display:list-item;line-height:1.5em;list-style-type:disc}body.skin-minerva .mw-parser-output .multiple-issues-text>.mw-collapsible-toggle,.mw-parser-output .compact-ambox .ambox .mbox-image,.mw-parser-output .compact-ambox .ambox .mbox-imageright,.mw-parser-output .compact-ambox .ambox .mbox-empty-cell,.mw-parser-output .compact-ambox .hide-when-compact{display:none}</style><table class="box-Multiple_issues plainlinks metadata ambox ambox-content ambox-multiple_issues compact-ambox" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/40px-Ambox_important.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/60px-Ambox_important.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/80px-Ambox_important.svg.png 2x" data-file-width="40" data-file-height="40" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span"><div class="multiple-issues-text mw-collapsible"><b>This section has multiple issues.</b> Please help <b><a href="/wiki/Special:EditPage/Conflict_of_interest" title="Special:EditPage/Conflict of interest">improve it</a></b> or discuss these issues on the <b><a href="/wiki/Talk:Conflict_of_interest" title="Talk:Conflict of interest">talk page</a></b>. <small><i>(<a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove these messages</a>)</i></small> <div class="mw-collapsible-content"> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Globalize plainlinks metadata ambox ambox-content ambox-globalize" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="Globe icon." src="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/48px-Ambox_globe_content.svg.png" decoding="async" width="48" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/73px-Ambox_globe_content.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/b/bd/Ambox_globe_content.svg/97px-Ambox_globe_content.svg.png 2x" data-file-width="350" data-file-height="290" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">The examples and perspective in this section <b>deal primarily with the United States and do not represent a <a href="/wiki/Wikipedia:WikiProject_Countering_systemic_bias" title="Wikipedia:WikiProject Countering systemic bias">worldwide view</a> of the subject</b>.<span class="hide-when-compact"> You may <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit">improve this section</a>, discuss the issue on the <a href="/wiki/Talk:Conflict_of_interest" title="Talk:Conflict of interest">talk page</a>, or create a new section, as appropriate.</span> <span class="date-container"><i>(<span class="date">April 2013</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Original_research plainlinks metadata ambox ambox-content ambox-Original_research" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/40px-Ambox_important.svg.png" decoding="async" width="40" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/60px-Ambox_important.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/b/b4/Ambox_important.svg/80px-Ambox_important.svg.png 2x" data-file-width="40" data-file-height="40" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>possibly contains <a href="/wiki/Wikipedia:No_original_research" title="Wikipedia:No original research">original research</a></b>.<span class="hide-when-compact"> Please <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit">improve it</a> by <a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability">verifying</a> the claims made and adding <a href="/wiki/Wikipedia:Citing_sources#Inline_citations" title="Wikipedia:Citing sources">inline citations</a>. Statements consisting only of original research should be removed.</span> <span class="date-container"><i>(<span class="date">October 2015</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> </div> </div><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <div class="mw-heading mw-heading3"><h3 id="Environmental_hazards_and_human_health">Environmental hazards and human health</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=18" title="Edit section: Environmental hazards and human health"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Baker<sup id="cite_ref-75" class="reference"><a href="#cite_note-75"><span class="cite-bracket">[</span>75<span class="cite-bracket">]</span></a></sup> summarized 176 studies of the potential impact of <a href="/wiki/Bisphenol_A" title="Bisphenol A">Bisphenol A</a> on human health as follows:<sup id="cite_ref-76" class="reference"><a href="#cite_note-76"><span class="cite-bracket">[</span>76<span class="cite-bracket">]</span></a></sup> </p> <table class="wikitable"> <tbody><tr> <th>Funding </th> <th>Harm </th> <th>No Harm </th></tr> <tr> <td>Industry </td> <td>0 </td> <td>13 (100%) </td></tr> <tr> <td>Independent (e.g., government) </td> <td>152 (86%) </td> <td>11 (14%) </td></tr></tbody></table> <p>Lessig<sup id="cite_ref-RepLostAll_77-0" class="reference"><a href="#cite_note-RepLostAll-77"><span class="cite-bracket">[</span>77<span class="cite-bracket">]</span></a></sup> noted that this does not mean that the funding source influenced the results. However, it does raise questions about the validity of the industry-funded studies specifically, because the researchers conducting those studies have a conflict of interest; they are subject at minimum to a natural human inclination to please the people who paid for their work. Lessig provided a similar summary of 326 studies of the potential harm from cell phone usage with results that were similar but not as stark.<sup id="cite_ref-78" class="reference"><a href="#cite_note-78"><span class="cite-bracket">[</span>78<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Self-regulation">Self-regulation <span class="anchor" id="Self-policing"></span></h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=19" title="Edit section: Self-regulation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Industry_self-regulation" title="Industry self-regulation">Self-regulation</a> of any group may also be a conflict of interest. If an entity, such as a corporation or government bureaucracy, is asked to eliminate unethical behavior within its own group, it may be in its interest in the short run to eliminate the appearance of unethical behavior, rather than the behavior itself, by keeping any ethical breaches hidden, instead of exposing and correcting them. An exception occurs when the ethical breach is already known by the public. In that case, it could be in the group's interest to end the ethical problem of which the public has knowledge, but keep the remaining breaches hidden.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2015)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Insurance_claims_adjusters">Insurance claims adjusters</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=20" title="Edit section: Insurance claims adjusters"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Insurance companies retain <a href="/wiki/Claims_adjuster" class="mw-redirect" title="Claims adjuster">claims adjusters</a> to represent their interest in adjusting claims. It is in the best interest of the insurance companies that the very smallest settlement is reached with its claimants. Based on the adjuster's experience and knowledge of the insurance policy it is very easy for the adjuster to convince an unknowing claimant to settle for less than what they may otherwise be entitled which could be a larger settlement. There is always a very good chance for a conflict of interest existing when one adjuster tries to represent both sides of a financial transaction such as an insurance claim. This problem is exacerbated when the claimant is told or believes, the insurance company's <a href="/wiki/Claims_adjuster" class="mw-redirect" title="Claims adjuster">claims adjuster</a> is fair and impartial enough to satisfy both their and the insurance company's interests. These types of conflicts could easily be avoided by the use of a third-party platform, independent of the insurers, which is agreed to, and named in the policy.<sup id="cite_ref-79" class="reference"><a href="#cite_note-79"><span class="cite-bracket">[</span>79<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Purchasing_agents_and_sales_personnel">Purchasing agents and sales personnel</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=21" title="Edit section: Purchasing agents and sales personnel"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A person working as the equipment purchaser for a company may get a bonus proportionate to the amount the company is under budget by year-end. However, this becomes an incentive for the employee to purchase inexpensive, substandard equipment. Therefore, this is counter to the interests of those in the company who must actually use the equipment. <a href="/wiki/W._Edwards_Deming" title="W. Edwards Deming">W. Edwards Deming</a> listed "purchasing on price alone" as number 4 of his famous <a href="/wiki/W._Edwards_Deming#Key_principles" title="W. Edwards Deming">14 points</a>, and he often said things to the effect that "He who purchases on price alone deserves to get rooked."<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2015)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Real_estate_agents">Real estate agents</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=22" title="Edit section: Real estate agents"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Real_estate_broker" class="mw-redirect" title="Real estate broker">Real estate brokers</a> have an inherent conflict of interest with the sellers they represent, because the usual commission structures of brokers motivate them to sell quickly rather than to sell at a higher price. However, a broker representing a buyer has a distinct disincentive to negotiate a lower price on behalf of their client, because they will simultaneously be negotiating their own commission lower.<sup id="cite_ref-80" class="reference"><a href="#cite_note-80"><span class="cite-bracket">[</span>80<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-81" class="reference"><a href="#cite_note-81"><span class="cite-bracket">[</span>81<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Government_officials">Government officials</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=23" title="Edit section: Government officials"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Copy_edit plainlinks metadata ambox ambox-style ambox-Copy_edit" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/Acap.svg/36px-Acap.svg.png" decoding="async" width="36" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/Acap.svg/54px-Acap.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/52/Acap.svg/72px-Acap.svg.png 2x" data-file-width="45" data-file-height="50" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>may require <a href="/wiki/Wikipedia:Basic_copyediting" title="Wikipedia:Basic copyediting">copy editing</a> for proper paragraphing. Excessively long, run-on paragraph needs to be split into multiple paragraphs of moderate length</b>.<span class="hide-when-compact"> You can assist by <a href="/wiki/Special:EditPage/Conflict_of_interest" title="Special:EditPage/Conflict of interest">editing it</a>.</span> <span class="date-container"><i>(<span class="date">August 2024</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:Corrupt-Legislation-Vedder-Highsmith-detail-1.jpeg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/Corrupt-Legislation-Vedder-Highsmith-detail-1.jpeg/220px-Corrupt-Legislation-Vedder-Highsmith-detail-1.jpeg" decoding="async" width="220" height="151" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/Corrupt-Legislation-Vedder-Highsmith-detail-1.jpeg/330px-Corrupt-Legislation-Vedder-Highsmith-detail-1.jpeg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/52/Corrupt-Legislation-Vedder-Highsmith-detail-1.jpeg/440px-Corrupt-Legislation-Vedder-Highsmith-detail-1.jpeg 2x" data-file-width="4520" data-file-height="3104" /></a><figcaption>Conflict of interest in legislation; the interests of the poor and the interests of the rich. A personification of corrupt legislation weighs a bag of money and denies an appeal of poverty.</figcaption></figure> <p>Regulating conflict of interest in government is one of the aims of <a href="/wiki/Political_ethics" title="Political ethics">political ethics</a>. Public officials are expected to put service to the public and their constituents ahead of their personal interests. Conflict of interest rules are intended to prevent officials from making decisions in circumstances that could reasonably be perceived as violating this duty of office. Rules in the executive branch tend to be stricter and easier to enforce than in the legislative branch.<sup id="cite_ref-82" class="reference"><a href="#cite_note-82"><span class="cite-bracket">[</span>82<span class="cite-bracket">]</span></a></sup> This is visible through one study which highlights how Members of Congress who have specific stock investments may vote on regulatory and interventionist legislation.<sup id="cite_ref-83" class="reference"><a href="#cite_note-83"><span class="cite-bracket">[</span>83<span class="cite-bracket">]</span></a></sup> Two problems make legislative ethics of conflicts difficult and distinctive.<sup id="cite_ref-84" class="reference"><a href="#cite_note-84"><span class="cite-bracket">[</span>84<span class="cite-bracket">]</span></a></sup> First, as James Madison wrote, legislators should share a "communion of interests" with their constituents. Legislators cannot adequately represent the interests of constituents without also representing some of their own. As Senator Robert S. Kerr once said, "I represent the farmers of Oklahoma, although I have large farm interests. I represent the oil business in Oklahoma...and I am in the oil business...They don't want to send a man here who has no community of interest with them, because he wouldn't be worth a nickel to them."<sup id="cite_ref-85" class="reference"><a href="#cite_note-85"><span class="cite-bracket">[</span>85<span class="cite-bracket">]</span></a></sup> The problem is to distinguish special interests from the general interests of all constituents. Second, the "political interests" of legislatures include campaign contributions which they need to get elected, and which are generally not illegal and not the same as a bribe. But under many circumstances, they can have the same effect. The problem here is how to keep the secondary interest in raising campaign funds from overwhelming what should be their primary interest—fulfilling the duties of office.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2015)">citation needed</span></a></i>]</sup> </p><p><a href="/wiki/Politics_of_the_United_States" title="Politics of the United States">Politics in the United States</a> is dominated in many ways by political campaign contributions.<sup id="cite_ref-RepublicLost_60-1" class="reference"><a href="#cite_note-RepublicLost-60"><span class="cite-bracket">[</span>60<span class="cite-bracket">]</span></a></sup> Candidates are often not considered "credible" unless they have a campaign budget far beyond what could reasonably be raised from citizens of ordinary means. The impact of this money can be found in many places, most notably in studies of how campaign contributions affect legislative behavior. For example, the price of sugar in the United States has been roughly double the international price for over half a century. In the 1980s, this added $3 billion to the annual budget of U.S. consumers, according to Stern,<sup id="cite_ref-BestCongress_86-0" class="reference"><a href="#cite_note-BestCongress-86"><span class="cite-bracket">[</span>86<span class="cite-bracket">]</span></a></sup> who provided the following summary of one part of how this happens: </p> <table class="wikitable"> <tbody><tr> <th>Contributions from the sugar lobby, 1983–1986 </th> <th>Percent voting in 1985 against gradually reducing sugar subsidies </th></tr> <tr> <td>> $5,000 </td> <td>100% </td></tr> <tr> <td>$2,500–5,000 </td> <td>97% </td></tr> <tr> <td>$1,000–2,500 </td> <td>68% </td></tr> <tr> <td>$1–1,000 </td> <td>45% </td></tr> <tr> <td>$0 </td> <td>20% </td></tr></tbody></table> <p>This $3 billion translates into $41 per household per year. This is in essence a <a href="/wiki/Tax" title="Tax">tax</a> collected by a nongovernmental agency: It is a cost imposed on consumers by governmental decisions, but never considered in any of the standard data on <a href="/wiki/Tax" title="Tax">tax</a> collections. </p><p>Stern notes that sugar interests contributed $2.6 million to political campaigns, representing well over $1,000 return for each $1 contributed to political campaigns. This, however, does not include the cost of lobbying. Lessig cites six different studies that consider the cost of <a href="/wiki/Lobbying" title="Lobbying">lobbying</a> with campaign contributions on a variety of issues considered in <a href="/wiki/Washington,_D.C." title="Washington, D.C.">Washington, D.C.</a><sup id="cite_ref-RepLost2_87-0" class="reference"><a href="#cite_note-RepLost2-87"><span class="cite-bracket">[</span>87<span class="cite-bracket">]</span></a></sup> These studies produced estimates of the anticipated return on each $1 invested in lobbying and political campaigns that ranged from $6 to $220. Lessig notes that clients who pay tens of millions of dollars to lobbyists typically receive billions. </p><p>Lessig insists that this does not mean that any legislator has sold their vote.<sup id="cite_ref-RepLostAll_77-1" class="reference"><a href="#cite_note-RepLostAll-77"><span class="cite-bracket">[</span>77<span class="cite-bracket">]</span></a></sup> One of several possible explanations Lessig gives for this phenomenon is that the money helped elect candidates more supportive of the issues pushed by the big money spent on lobbying and political campaigns. He notes that if any money perverts democracy, it is the large contributions beyond the budgets of citizens of ordinary means; small contributions from common citizens have long been considered to support democracy.<sup id="cite_ref-88" class="reference"><a href="#cite_note-88"><span class="cite-bracket">[</span>88<span class="cite-bracket">]</span></a></sup> </p><p>When such large sums become virtually essential to a politician's future, it generates a substantive conflict of interest contributing to a fairly well-documented distortion of the nation's priorities and policies.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2015)">citation needed</span></a></i>]</sup> </p><p>Beyond this, governmental officials, whether elected or not, often leave public service to work for companies affected by legislation they helped enact or companies they used to regulate. This practice is called the "<a href="/wiki/Revolving_door_(politics)" title="Revolving door (politics)">revolving door</a>". Former legislators and regulators are accused of (a) using inside information for their new employers or (b) compromising laws and regulations in hopes of securing lucrative employment in the private sector. This possibility creates a conflict of interest for all public officials whose future may depend on the <a href="/wiki/Revolving_door_(politics)" title="Revolving door (politics)">revolving door</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2015)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Finance_industry_and_elected_officials">Finance industry and elected officials</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=24" title="Edit section: Finance industry and elected officials"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Copy_edit plainlinks metadata ambox ambox-style ambox-Copy_edit" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/Acap.svg/36px-Acap.svg.png" decoding="async" width="36" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/Acap.svg/54px-Acap.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/52/Acap.svg/72px-Acap.svg.png 2x" data-file-width="45" data-file-height="50" /></span></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>may require <a href="/wiki/Wikipedia:Basic_copyediting" title="Wikipedia:Basic copyediting">copy editing</a> for proper paragraphing. Excessively long, run-on paragraph needs to be split into multiple paragraphs of moderate length</b>.<span class="hide-when-compact"> You can assist by <a href="/wiki/Special:EditPage/Conflict_of_interest" title="Special:EditPage/Conflict of interest">editing it</a>.</span> <span class="date-container"><i>(<span class="date">August 2024</span>)</i></span><span class="hide-when-compact"><i> (<small><a href="/wiki/Help:Maintenance_template_removal" title="Help:Maintenance template removal">Learn how and when to remove this message</a></small>)</i></span></div></td></tr></tbody></table> <p>Conflicts of interest among elected officials is part of the story behind the increase in the percent of US corporate domestic profits captured by the finance industry depicted in the accompanying figure.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p> <figure class="mw-default-size" typeof="mw:File/Thumb"><a href="/wiki/File:USFinanceIndustry.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/d/d8/USFinanceIndustry.svg/220px-USFinanceIndustry.svg.png" decoding="async" width="220" height="220" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/d/d8/USFinanceIndustry.svg/330px-USFinanceIndustry.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/d/d8/USFinanceIndustry.svg/440px-USFinanceIndustry.svg.png 2x" data-file-width="630" data-file-height="630" /></a><figcaption><b>Finance as a percent of US Domestic Corporate Profits</b> Finance includes banks, securities and insurance. In 1932–1933, the total U.S. domestic corporate profit was negative. However, the financial sector made a profit in those years, which made its percentage negative, below 0 and off the scale in this plot.<sup id="cite_ref-89" class="reference"><a href="#cite_note-89"><span class="cite-bracket">[</span>89<span class="cite-bracket">]</span></a></sup></figcaption></figure> <p>From 1934 through 1985, the finance industry averaged 13.8% of U.S. domestic corporate profit. Between 1986 and 1999, it averaged 23.5%. From 2000 through 2010, it averaged 32.6%. Some of this increase is doubtless due to increased efficiency from banking consolidation and innovations in new financial products that benefit consumers. However, if most consumers had refused to accept financial products they did not understand, e.g., <a href="/wiki/Negative_amortization" title="Negative amortization">negative amortization</a> loans, the finance industry would not have been as profitable as it has been, and the <a href="/wiki/Late-2000s_recession" class="mw-redirect" title="Late-2000s recession">Late-2000s recession</a> might have been avoided or postponed. Stiglitz<sup id="cite_ref-90" class="reference"><a href="#cite_note-90"><span class="cite-bracket">[</span>90<span class="cite-bracket">]</span></a></sup> argued that the <a href="/wiki/Late-2000s_recession" class="mw-redirect" title="Late-2000s recession">Late-2000s recession</a> was created in part because, "Bankers acted greedily because they had incentives and opportunities to do so". They did this in part by innovating to make consumer financial products like retail banking services and home mortgages as complicated as possible to make it easy for them to charge higher fees. Consumers who shop carefully for financial services typically find better options than the primary offerings of the major banks. However, few consumers think to do that. This explains part of this increase in financial industry profits. (Note, however, that Stiglitz has been accused of a conflict of interests and violation of <a href="/wiki/Columbia_University" title="Columbia University">Columbia University</a> transparency policies for failing to disclose his status as a paid consultant to the government of Argentina at the same time he was writing articles in defense of Argentina's planned default of over $1billion in bond debt during the <a href="/wiki/1998%E2%80%932002_Argentine_great_depression" title="1998–2002 Argentine great depression">1998–2002 Argentine great depression</a>, and for failing to disclose his paid consultancy to the government of Greece at the same time he was downplaying the risk of Greece defaulting on their debt during the <a href="/wiki/Greek_government-debt_crisis" title="Greek government-debt crisis">Greek government-debt crisis</a> of 2009.<sup id="cite_ref-91" class="reference"><a href="#cite_note-91"><span class="cite-bracket">[</span>91<span class="cite-bracket">]</span></a></sup>) </p><p>However, it is argued that a major portion of this increase and a driving force behind <a href="/wiki/Late-2000s_recession" class="mw-redirect" title="Late-2000s recession">Late-2000s recession</a> has been the corrosive effect of money in politics, giving legislators and the President of the U.S. a conflict of interest, because if they protect the public, they will offend the finance industry, which contributed $1.7 billion to political campaigns and spent $3.4 billion ($5.1 billion total) on lobbying from 1998 to 2008.<sup id="cite_ref-92" class="reference"><a href="#cite_note-92"><span class="cite-bracket">[</span>92<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-93" class="reference"><a href="#cite_note-93"><span class="cite-bracket">[</span>93<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-94" class="reference"><a href="#cite_note-94"><span class="cite-bracket">[</span>94<span class="cite-bracket">]</span></a></sup> </p><p>To be conservative, suppose we<sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Writing_better_articles#Tone" title="Wikipedia:Writing better articles"><span title="The tone or style of material in the vicinity of this tag may not be appropriate for Wikipedia. (September 2015)">tone</span></a></i>]</sup> attribute only the increase from 23.5% of 1986 through 1999 to the recent 32.6% average to governmental actions subject to conflicts of interest created by the $1.7 billion in campaign contributions. That is 9% of the $3 trillion in profits claimed by the finance industry during that period or $270 billion. This represents a return of over $50 for each $1 invested in political campaigns and lobbying for that industry. (This $270 billion represents almost $1,000 for every man, woman and child in the United States.) There is hardly any place outside politics with such a high <a href="/wiki/Return_on_investment" title="Return on investment">return on investment</a> in such a short time.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2015)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Finance_industry_and_economists">Finance industry and economists</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=25" title="Edit section: Finance industry and economists"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Economists (unlike other professions such as sociologists) do not formally subscribe to a professional ethical code. Close to 300 economists have signed a letter urging the <a href="/wiki/American_Economic_Association" title="American Economic Association">American Economic Association</a> (the discipline's foremost professional body), to adopt such a code. The signatories include <a href="/wiki/George_Akerlof" title="George Akerlof">George Akerlof</a>, a Nobel laureate, and <a href="/wiki/Christina_Romer" title="Christina Romer">Christina Romer</a>, who headed Barack Obama's Council of Economic Advisers.<sup id="cite_ref-95" class="reference"><a href="#cite_note-95"><span class="cite-bracket">[</span>95<span class="cite-bracket">]</span></a></sup> </p><p>This call for a code of ethics was supported by the public attention the documentary <i><a href="/wiki/Inside_Job_(2010_film)" title="Inside Job (2010 film)">Inside Job</a></i> (winner of an Academy Award) drew to the consulting relationships of several influential economists.<sup id="cite_ref-96" class="reference"><a href="#cite_note-96"><span class="cite-bracket">[</span>96<span class="cite-bracket">]</span></a></sup> This documentary focused on conflicts that may arise when economists publish results or provide public recommendations on topics that affect industries or companies with which they have financial links. Critics of the profession argue, for example, that it is no coincidence that financial economists, many of whom were engaged as consultants by Wall Street firms, were opposed to regulating the financial sector.<sup id="cite_ref-97" class="reference"><a href="#cite_note-97"><span class="cite-bracket">[</span>97<span class="cite-bracket">]</span></a></sup> </p><p>In response to criticism that the profession not only failed to predict the <a href="/wiki/Financial_crisis_of_2007%E2%80%932008" class="mw-redirect" title="Financial crisis of 2007–2008">financial crisis of 2007–2008</a> but may actually have helped create it, the <a href="/wiki/American_Economic_Association" title="American Economic Association">American Economic Association</a> has adopted new rules in 2012: economists will have to disclose financial ties and other potential conflicts of interest in papers published in <a href="/wiki/Academic_journal" title="Academic journal">academic journals</a>. Backers argue such disclosures will help restore faith in the profession by increasing transparency which will help in assessing economists' advice.<sup id="cite_ref-98" class="reference"><a href="#cite_note-98"><span class="cite-bracket">[</span>98<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Stockbrokers">Stockbrokers</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=26" title="Edit section: Stockbrokers"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>A conflict of interest is a manifestation of <a href="/wiki/Moral_hazard" title="Moral hazard">moral hazard</a>, particularly when a financial institution provides multiple services and the potentially competing interests of those services may lead to a concealment of information or dissemination of misleading information. A conflict of interest exists when a party to a transaction could potentially make a gain from taking actions that are detrimental to the other party in the transaction.<sup id="cite_ref-Mehran_99-0" class="reference"><a href="#cite_note-Mehran-99"><span class="cite-bracket">[</span>99<span class="cite-bracket">]</span></a></sup> </p><p>There are many types of conflicts of interest such as a <a href="/wiki/Pump_and_dump" title="Pump and dump">pump and dump</a> by stockbrokers. This is when a stockbroker who owns a security artificially inflates the price by upgrading it or spreading rumors, and then sells the security and adds short position. They will then downgrade the security or spread negative rumors to push the price back down. This is an example of stock fraud. It is a conflict of interest because the stockbrokers are concealing and manipulating information to make it misleading for the buyers. The broker may claim to have the "inside" information about impending news and will urge buyers to buy the stock quickly. Investors will buy the stock, which creates a high demand and raises the prices. This rise in prices can entice more people to believe the hype and then buy shares as well. The stockbrokers will then sell their shares and stop promoting, the price will drop, and other investors are left holding stock that is worth nothing compared to what they paid for it. In this way, brokers use their knowledge and position to gain personally at the expense of others.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2016)">citation needed</span></a></i>]</sup> </p><p>The <a href="/wiki/Enron_scandal" title="Enron scandal">Enron scandal</a> is a major example of pump and dump. Executives participated in an elaborate scheme, falsely reporting profits, thus inflating its stock prices, and covered up the real numbers with questionable <a href="/wiki/Accounting" title="Accounting">accounting</a>; 29 executives sold overvalued stock for more than a billion dollars before the company went bankrupt.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (October 2013)">citation needed</span></a></i>]</sup> </p><p>A financial institution with a conflict of interest may also be charged with market manipulation. Stockbrokers that act as market makers have a duty to establish bona fide.<sup id="cite_ref-100" class="reference"><a href="#cite_note-100"><span class="cite-bracket">[</span>100<span class="cite-bracket">]</span></a></sup> A conflict of interest serves against that regulation. Stockbrokers have to prove that their trading interests and transacting interests do not interfere with serving the interests of investors at brokerages.<sup id="cite_ref-101" class="reference"><a href="#cite_note-101"><span class="cite-bracket">[</span>101<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="News_media">News media</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=27" title="Edit section: News media"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Commercial <a href="/wiki/News_media" title="News media">news media</a> have a conflict of interest in discussing anything that may impact their ability to communicate with their audience. Most news outlets, when reporting a story which involves a <a href="/wiki/Parent_company" class="mw-redirect" title="Parent company">parent company</a> or a <a href="/wiki/Subsidiary" title="Subsidiary">subsidiary</a>, will explicitly report this fact as part of the story, in order to alert the audience that their reporting has the potential for bias due to the possible conflict of interest. </p><p>The <a href="/wiki/Business_model" title="Business model">business model</a> of commercial media organizations (i.e., any that accept advertising) is selling behavior change in their audience to advertisers.<sup id="cite_ref-HermChom_102-0" class="reference"><a href="#cite_note-HermChom-102"><span class="cite-bracket">[</span>102<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-ProblemMedia_103-0" class="reference"><a href="#cite_note-ProblemMedia-103"><span class="cite-bracket">[</span>103<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-McC-polEcon_104-0" class="reference"><a href="#cite_note-McC-polEcon-104"><span class="cite-bracket">[</span>104<span class="cite-bracket">]</span></a></sup> However, few in their audience are aware of the conflict of interest between the <a href="/wiki/Profit_motive" title="Profit motive">profit motive</a> and the altruistic desire to serve the public and "give the audience what it wants". </p><p>Many major advertisers <a href="/wiki/Advertising_research" title="Advertising research">test their ads</a> in various ways to measure the <a href="/wiki/Return_on_investment" title="Return on investment">return on investment</a> in advertising. Advertising rates are set as a function of the size and spending habits of the <a href="/wiki/Audience" title="Audience">viewing audience</a> as measured by the <a href="/wiki/Nielsen_Media_Research#Nielsen_TV_ratings" title="Nielsen Media Research">Nielsen Ratings</a>. Media action expressing this conflict of interest is illustrated in the reaction of <a href="/wiki/Rupert_Murdoch" title="Rupert Murdoch">Rupert Murdoch</a>, Chairman of <a href="/wiki/News_Corporation_(1980%E2%80%932013)" class="mw-redirect" title="News Corporation (1980–2013)">News Corporation</a> (the owner of <a href="/wiki/Fox_Broadcasting_Company" title="Fox Broadcasting Company">Fox Broadcasting</a>, to changes in <a href="/wiki/Data_collection" title="Data collection">data collection</a> methodology adopted by Nielsen in 2004 to more accurately measure viewing habits. The results corrected a previous overestimate of Fox's <a href="/wiki/Market_share" title="Market share">market share</a>. Murdoch reacted by getting leading politicians to denounce the Nielsen Ratings as "racist".<sup id="cite_ref-105" class="reference"><a href="#cite_note-105"><span class="cite-bracket">[</span>105<span class="cite-bracket">]</span></a></sup><sup class="noprint Inline-Template" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Verifiability" title="Wikipedia:Verifiability"><span title="The material near this tag needs to be fact-checked with the cited source(s). (August 2015)">verification needed</span></a></i>]</sup> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20121027084540/http://www.susan-whiting.com/">Susan Whiting</a>, president and CEO of <a href="/wiki/Nielsen_Media_Research" title="Nielsen Media Research">Nielsen Media Research</a>, responded by quietly sharing Nielsen's data with her leading critics. The criticism disappeared, and Fox paid Nielsen's fees.<sup id="cite_ref-106" class="reference"><a href="#cite_note-106"><span class="cite-bracket">[</span>106<span class="cite-bracket">]</span></a></sup> Murdoch had a conflict of interest between the reality of his market and his finances.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p><p>Commercial media organizations can lose money if they provide content that offends either their audience or their advertisers. The substantial <a href="/wiki/Concentration_of_media_ownership" title="Concentration of media ownership">media consolidation</a> that has occurred since the 1980s has reduced the alternatives available to the audience, thereby making it easier for the ever-larger companies in this increasingly <a href="/wiki/Oligopoly" title="Oligopoly">oligopolistic</a> industry to hide news and entertainment potentially offensive to advertisers without losing audience. </p><p>If the news media provide too much information on how Congress spends its time, a major advertiser could be offended and could reduce their advertising expenditures with the offending media company. This is one of the ways the <a href="/wiki/Market_system" title="Market system">market system</a> has determined which companies won and which either went out of business or were purchased by others during this period of media consolidation. (Advertisers don't like to feed the mouth that bites them, and often don't. Similarly, commercial media organizations are not eager to bite the hand that feeds them.) Advertisers have been known to fund media organizations with editorial policies they find offensive if that media outlet provides access to a sufficiently attractive audience segment they cannot efficiently reach otherwise.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2015)">citation needed</span></a></i>]</sup> </p><p>Election years are a major boon to commercial broadcasters, because virtually all political advertising is purchased with minimal advance planning, paying therefore the highest rates. The commercial media have a conflict of interest in anything that could make it easier for candidates to get elected with less money.<sup id="cite_ref-ProblemMedia_103-1" class="reference"><a href="#cite_note-ProblemMedia-103"><span class="cite-bracket">[</span>103<span class="cite-bracket">]</span></a></sup> </p><p>Accompanying this trend in media consolidation has been a substantial reduction in <a href="/wiki/Investigative_journalism" title="Investigative journalism">investigative journalism</a>,<sup id="cite_ref-ProblemMedia_103-2" class="reference"><a href="#cite_note-ProblemMedia-103"><span class="cite-bracket">[</span>103<span class="cite-bracket">]</span></a></sup> reflecting this conflict of interest between the business objectives of the commercial media and the public's need to know what government is doing in their name. This change has been tied to substantial changes in law and culture in the United States. To cite only one example, researchers have tied this decline in investigative journalism to an increased coverage of the "police blotter".<sup id="cite_ref-107" class="reference"><a href="#cite_note-107"><span class="cite-bracket">[</span>107<span class="cite-bracket">]</span></a></sup> This has further been tied to the fact that the United States has the <a href="/wiki/Incarceration_in_the_United_States" title="Incarceration in the United States">highest incarceration rate in the world</a>. </p><p>Beyond this, virtually all commercial media companies own substantial quantities of copyrighted material. This gives them an inherent conflict of interest in any public policy issue affecting copyrights.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> McChesney noted that the commercial media have lobbied successfully for changes in copyright law that have led "to higher prices and a shrinking of the marketplace of ideas", increasing the power and profits of the large media corporations at public expense. One result of this is that "the people cease to have a means of clarifying social priorities and organizing social reform".<sup id="cite_ref-108" class="reference"><a href="#cite_note-108"><span class="cite-bracket">[</span>108<span class="cite-bracket">]</span></a></sup> A free market has a mechanism for controlling abuses of power by media corporations: If their censorship becomes too egregious, they lose audience, which in turn reduces their advertising rates. However, the effectiveness of this mechanism has been substantially reduced over the past quarter century by "the changes in the concentration and integration of the media."<sup id="cite_ref-109" class="reference"><a href="#cite_note-109"><span class="cite-bracket">[</span>109<span class="cite-bracket">]</span></a></sup> Would the <a href="/wiki/Anti-Counterfeiting_Trade_Agreement" title="Anti-Counterfeiting Trade Agreement">Anti-Counterfeiting Trade Agreement</a> have advanced to the point of generating substantial <a href="/wiki/Anti-Counterfeiting_Trade_Agreement#Protests" title="Anti-Counterfeiting Trade Agreement">protests</a> without the secrecy behind which that agreement was negotiated—and would the government attempts to sustain that secrecy have been as successful if the commercial media had not been a primary beneficiary and had not had a conflict of interest in suppressing discussion thereof?<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Law,_administration,_and_academia"><span id="Law.2C_administration.2C_and_academia"></span>Law, administration, and academia</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=28" title="Edit section: Law, administration, and academia"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236090951"><div role="note" class="hatnote navigation-not-searchable">Main article: <a href="/wiki/Impartiality" title="Impartiality">Impartiality</a></div> <p>Many professions are governed by standards of impartiality, including <a href="/wiki/Law" title="Law">law</a>, <a href="/wiki/Public_administration" title="Public administration">public administration</a>, <a href="/wiki/Social_work" title="Social work">social work</a>, and <a href="/wiki/Academia" class="mw-redirect" title="Academia">academia</a>. Obligations of academic disclosure of may be covered in <a href="/wiki/Style_guide" title="Style guide">style guides</a> addressing <a href="/wiki/Professional_ethics" title="Professional ethics">professional ethics</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="Mitigation">Mitigation</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=29" title="Edit section: Mitigation"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <div class="mw-heading mw-heading3"><h3 id="Removal">Removal</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=30" title="Edit section: Removal"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Expand_section plainlinks metadata ambox mbox-small-left ambox-content" role="presentation"><tbody><tr><td class="mbox-image"><span typeof="mw:File"><a href="/wiki/File:Wiki_letter_w_cropped.svg" class="mw-file-description"><img alt="[icon]" src="//upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/20px-Wiki_letter_w_cropped.svg.png" decoding="async" width="20" height="14" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/30px-Wiki_letter_w_cropped.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/1/1c/Wiki_letter_w_cropped.svg/40px-Wiki_letter_w_cropped.svg.png 2x" data-file-width="44" data-file-height="31" /></a></span></td><td class="mbox-text"><div class="mbox-text-span">This section <b>needs expansion</b>. You can help by <a class="external text" href="https://en.wikipedia.org/w/index.php?title=Conflict_of_interest&action=edit&section=">adding to it</a>. <span class="date-container"><i>(<span class="date">September 2015</span>)</i></span></div></td></tr></tbody></table> <p>Sometimes, people who may be perceived to have a conflict of interest resign from a position or sell a shareholding in a venture, to eliminate the conflict of interest going forward.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (September 2015)">citation needed</span></a></i>]</sup> For example, <a href="/wiki/Jonathan_Evans,_Baron_Evans_of_Weardale" title="Jonathan Evans, Baron Evans of Weardale">Lord Evans of Weardale</a> resigned as a non-executive director of the UK <a href="/wiki/National_Crime_Agency" title="National Crime Agency">National Crime Agency</a> after a <a href="/wiki/Tax_avoidance" title="Tax avoidance">tax-avoidance</a>-related controversy about <a href="/wiki/HSBC" title="HSBC">HSBC</a>, where Lord Evans was also a non-executive director. This resignation was stated to have taken place in order to avoid the appearance of conflict of interest.<sup id="cite_ref-110" class="reference"><a href="#cite_note-110"><span class="cite-bracket">[</span>110<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id=""Blind_trust""><span id=".22Blind_trust.22"></span>"Blind trust"</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=31" title="Edit section: "Blind trust""><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p><a href="/wiki/Blind_trust" title="Blind trust">Blind trusts</a> can perhaps mitigate conflicts of interest scenarios by giving an independent trustee control of a beneficiary's assets. The independent trustee must have the power to sell or transfer interests without knowledge of the beneficiary. Thus, the beneficiary becomes "blind" to the impact of official actions on private interests held in trust.<sup id="cite_ref-111" class="reference"><a href="#cite_note-111"><span class="cite-bracket">[</span>111<span class="cite-bracket">]</span></a></sup> </p><p>As an example, a politician who owns shares in a company that may be affected by government policy may put those shares in a blind trust with themselves or their family as the beneficiary. It is disputed whether this really removes the conflict of interest, however.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p><p>Blind trusts may in fact obscure conflicts of interest, and for this reason it is illegal to fund political parties in the UK via a blind trust if the identity of the real donor is concealed.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading3"><h3 id="Disclosure">Disclosure</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=32" title="Edit section: Disclosure"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>Commonly, politicians and high-ranking government officials are required to disclose financial information—assets such as stock, <a href="/wiki/Debt" title="Debt">debts</a> such as <a href="/wiki/Loan" title="Loan">loans</a>, and/or corporate positions held, typically annually.<sup id="cite_ref-112" class="reference"><a href="#cite_note-112"><span class="cite-bracket">[</span>112<span class="cite-bracket">]</span></a></sup> To protect privacy (to some extent), financial figures are often disclosed in ranges such as "$100,000 to $500,000" and "over $2,000,000". Certain professionals are required either by rules related to their professional organization, or by <a href="/wiki/Statute" title="Statute">statute</a>, to disclose any actual or potential conflicts of interest. In some instances, the failure to provide full disclosure is a crime. </p><p>However, there is limited evidence regarding the effect of conflict of interest disclosure despite its widespread acceptance.<sup id="cite_ref-113" class="reference"><a href="#cite_note-113"><span class="cite-bracket">[</span>113<span class="cite-bracket">]</span></a></sup> A 2012 study published in the <i><a href="/wiki/Journal_of_the_American_Medical_Association" class="mw-redirect" title="Journal of the American Medical Association">Journal of the American Medical Association</a></i> showed that routine disclosure of conflicts of interest by American medical school educators to pre-clinical medical students were associated with an increased desire among students for limitations in some industry relationships.<sup id="cite_ref-114" class="reference"><a href="#cite_note-114"><span class="cite-bracket">[</span>114<span class="cite-bracket">]</span></a></sup> However, there were no changes in the perceptions of students about the value of disclosure, the influence of industry relationships on educational content, or the instruction by faculty with relevant conflicts of interest.<sup id="cite_ref-115" class="reference"><a href="#cite_note-115"><span class="cite-bracket">[</span>115<span class="cite-bracket">]</span></a></sup> </p><p>One line of research suggests that disclosure can have "perverse effects" or, at least, is not the panacea regulators often take it to be.<sup id="cite_ref-116" class="reference"><a href="#cite_note-116"><span class="cite-bracket">[</span>116<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Recusal">Recusal</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=33" title="Edit section: Recusal"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1251242444"><table class="box-Missing_information plainlinks metadata ambox ambox-content" role="presentation"><tbody><tr><td class="mbox-image"><div class="mbox-image-div"><span typeof="mw:File"><a href="/wiki/File:Wiki_letter_w.svg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/en/thumb/6/6c/Wiki_letter_w.svg/44px-Wiki_letter_w.svg.png" decoding="async" width="44" height="44" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/6/6c/Wiki_letter_w.svg/66px-Wiki_letter_w.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/6/6c/Wiki_letter_w.svg/88px-Wiki_letter_w.svg.png 2x" data-file-width="44" data-file-height="44" /></a></span></div></td><td class="mbox-text"><div class="mbox-text-span">This section <b>is missing information</b> about the fact that recusal is an <i>expectation</i>, and no solution for situations where COI can't be verified, as is the case on WP.<span class="hide-when-compact"> Please expand the section to include this information. Further details may exist on the <a href="/wiki/Talk:Conflict_of_interest" title="Talk:Conflict of interest">talk page</a>.</span> <span class="date-container"><i>(<span class="date">September 2015</span>)</i></span></div></td></tr></tbody></table> <p>Those with a conflict of interest are expected to <a href="/wiki/Judicial_disqualification" class="mw-redirect" title="Judicial disqualification">recuse</a> themselves from (i.e., abstain from) decisions where such a conflict exists. The imperative for recusal varies depending upon the circumstance and profession, either as common sense ethics, codified ethics, or by <a href="/wiki/Statute" title="Statute">statute</a>. For example, if the governing board of a government agency is considering hiring a consulting firm for some task, and one firm being considered has, as a partner, a close relative of one of the board's members, then that board member should not vote on which firm is to be selected. In fact, to minimize any conflict, the board member should not participate in any way in the decision, including discussions.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p><p><a href="/wiki/Judge" title="Judge">Judges</a> are supposed to recuse themselves from cases when personal conflicts of interest may arise. For example, if a judge has participated in a case previously in some other judicial role he/she is not allowed to try that case. Recusal is also expected when one of the lawyers in a case might be a close personal friend, or when the outcome of the case might affect the judge directly, such as whether a car maker is obliged to recall a model that a judge drives. This is required by law under Continental <a href="/wiki/Civil_law_(legal_system)" title="Civil law (legal system)">civil law</a> systems and by the <a href="/wiki/Rome_Statute" title="Rome Statute">Rome Statute</a>, organic law of the <a href="/wiki/International_Criminal_Court" title="International Criminal Court">International Criminal Court</a>.<sup class="noprint Inline-Template Template-Fact" style="white-space:nowrap;">[<i><a href="/wiki/Wikipedia:Citation_needed" title="Wikipedia:Citation needed"><span title="This claim needs references to reliable sources. (June 2024)">citation needed</span></a></i>]</sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=34" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1184024115">.mw-parser-output .div-col{margin-top:0.3em;column-width:30em}.mw-parser-output .div-col-small{font-size:90%}.mw-parser-output .div-col-rules{column-rule:1px solid #aaa}.mw-parser-output .div-col dl,.mw-parser-output .div-col ol,.mw-parser-output .div-col ul{margin-top:0}.mw-parser-output .div-col li,.mw-parser-output .div-col dd{page-break-inside:avoid;break-inside:avoid-column}</style><div class="div-col" style="column-width: 30em;"> <ul><li><a href="/wiki/Conflict-of-interest_editing_on_Wikipedia" title="Conflict-of-interest editing on Wikipedia">Conflict-of-interest editing on Wikipedia</a></li> <li><a href="/wiki/Conflicts_of_interest_in_academic_publishing" title="Conflicts of interest in academic publishing">Conflicts of interest in academic publishing</a></li> <li><a href="/wiki/Corruption" title="Corruption">Corruption</a></li> <li><a href="/wiki/Duty_to_defend" title="Duty to defend">Duty to defend</a></li> <li><a href="/wiki/Ethics" title="Ethics">Ethics</a></li> <li><a href="/wiki/Incentive#Problems" title="Incentive">Incentive</a></li> <li><a href="/wiki/Insider_trading" title="Insider trading">Insider trading</a></li> <li><a href="/wiki/Jury_nullification" title="Jury nullification">Jury nullification</a></li> <li><a href="/wiki/Moral_hazard" title="Moral hazard">Moral hazard</a></li> <li><a href="/wiki/Perverse_incentive" title="Perverse incentive">Perverse incentive</a></li> <li><a href="/wiki/Quid_pro_quo" title="Quid pro quo">Quid pro quo</a></li> <li><a href="/wiki/Remuneration" title="Remuneration">Remuneration</a></li> <li><a href="/wiki/Reservation_of_rights" title="Reservation of rights">Reservation of rights</a></li> <li><a href="/wiki/Revolving_door_(politics)" title="Revolving door (politics)">Revolving door (politics)</a></li> <li><a href="/wiki/Tragedy_of_the_commons" title="Tragedy of the commons">Tragedy of the commons</a></li> <li><a href="/wiki/Vested_interest_(communication_theory)" title="Vested interest (communication theory)">Vested interest (communication theory)</a></li></ul></div> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=35" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist reflist-columns references-column-width reflist-columns-2"> <ol class="references"> <li id="cite_note-1"><span class="mw-cite-backlink"><b><a href="#cite_ref-1">^</a></b></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFKomesaroffKerridgeLipworth2019" class="citation journal cs1">Komesaroff, Paul A.; Kerridge, Ian; Lipworth, Wendy (2019). <a rel="nofollow" class="external text" href="https://doi.org/10.1111/imj.14233">"Komesaroff PA, Kerridge I, Lipworth W. "Conflicts of interest: new thinking, new processes". Internal Medicine Journal. 49 (5); 2019: 574-577"</a>. <i>Internal Medicine Journal</i>. <b>49</b> (5): 574–577. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1111%2Fimj.14233">10.1111/imj.14233</a>. <a href="/wiki/Hdl_(identifier)" class="mw-redirect" title="Hdl (identifier)">hdl</a>:<span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://hdl.handle.net/2123%2F20531">2123/20531</a></span>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/30693633">30693633</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:59340797">59340797</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210323011341/https://onlinelibrary.wiley.com/doi/abs/10.1111/imj.14233">Archived</a> from the original on 2021-03-23<span class="reference-accessdate">. Retrieved <span class="nowrap">2019-09-26</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Internal+Medicine+Journal&rft.atitle=Komesaroff+PA%2C+Kerridge+I%2C+Lipworth+W.+%22Conflicts+of+interest%3A+new+thinking%2C+new+processes%22.+Internal+Medicine+Journal.+49+%285%29%3B+2019%3A+574-577&rft.volume=49&rft.issue=5&rft.pages=574-577&rft.date=2019&rft_id=info%3Ahdl%2F2123%2F20531&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A59340797%23id-name%3DS2CID&rft_id=info%3Apmid%2F30693633&rft_id=info%3Adoi%2F10.1111%2Fimj.14233&rft.aulast=Komesaroff&rft.aufirst=Paul+A.&rft.au=Kerridge%2C+Ian&rft.au=Lipworth%2C+Wendy&rft_id=https%3A%2F%2Fdoi.org%2F10.1111%2Fimj.14233&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-2"><span class="mw-cite-backlink"><b><a href="#cite_ref-2">^</a></b></span> <span class="reference-text">Lo and Field (2009). The definition originally appeared in Thompson (1993).</span> </li> <li id="cite_note-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-3">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDennis_F._Thompson1993" class="citation journal cs1"><a href="/wiki/Dennis_F._Thompson" title="Dennis F. Thompson">Dennis F. Thompson</a> (19 August 1993). "Understanding financial conflicts of interest". <i><a href="/wiki/The_New_England_Journal_of_Medicine" title="The New England Journal of Medicine">The New England Journal of Medicine</a></i>. <b>329</b> (8): 573–576. <a href="/wiki/CiteSeerX_(identifier)" class="mw-redirect" title="CiteSeerX (identifier)">CiteSeerX</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.466.1945">10.1.1.466.1945</a></span>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1056%2FNEJM199308193290812">10.1056/NEJM199308193290812</a>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/8336759">8336759</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=The+New+England+Journal+of+Medicine&rft.atitle=Understanding+financial+conflicts+of+interest&rft.volume=329&rft.issue=8&rft.pages=573-576&rft.date=1993-08-19&rft_id=https%3A%2F%2Fciteseerx.ist.psu.edu%2Fviewdoc%2Fsummary%3Fdoi%3D10.1.1.466.1945%23id-name%3DCiteSeerX&rft_id=info%3Apmid%2F8336759&rft_id=info%3Adoi%2F10.1056%2FNEJM199308193290812&rft.au=Dennis+F.+Thompson&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFWolfram1986" class="citation book cs1">Wolfram, Charles (1986). <i>Modern Legal Ethics</i>. West Publishing Company. pp. §7.1.1. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780314926395" title="Special:BookSources/9780314926395"><bdi>9780314926395</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Modern+Legal+Ethics&rft.pages=%C2%A77.1.1&rft.pub=West+Publishing+Company&rft.date=1986&rft.isbn=9780314926395&rft.aulast=Wolfram&rft.aufirst=Charles&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><a href="/wiki/Gregory_Sisk" title="Gregory Sisk">Gregory Sisk</a> et al, Legal Ethics, Professional Responsibility, and the Legal Profession §4-7.1 (2018).</span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHazard_and_Dondi2004" class="citation book cs1">Hazard and Dondi, Geoffrey C and Angelo (2004). <i>Legal Ethics: A Comparative Study</i>. Stanford University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780804748827" title="Special:BookSources/9780804748827"><bdi>9780804748827</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Legal+Ethics%3A+A+Comparative+Study&rft.pub=Stanford+University+Press&rft.date=2004&rft.isbn=9780804748827&rft.aulast=Hazard+and+Dondi&rft.aufirst=Geoffrey+C+and+Angelo&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-7">^</a></b></span> <span class="reference-text">A Concise Restatement of the Law Governing Lawyers §60 (Am. Law Inst.2007).</span> </li> <li id="cite_note-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-8">^</a></b></span> <span class="reference-text"><i>A Concise Restatement of the Law Governing Lawyers §121 (Am. Law Inst.2007).</i></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text">Wolfram, § 7.3.2.</span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text">Model Rules of Prof'l Conduct r. 1.7 (Am. Bar Ass'n 1983).</span> </li> <li id="cite_note-Conduct_r._1_1983-11"><span class="mw-cite-backlink">^ <a href="#cite_ref-Conduct_r._1_1983_11-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Conduct_r._1_1983_11-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><i>Model Rules of Prof'l Conduct r. 1.9 (Am. Bar Ass'n 1983).</i></span> </li> <li id="cite_note-Sisk,_et_al,_§4-7.1_at_357-58-12"><span class="mw-cite-backlink">^ <a href="#cite_ref-Sisk,_et_al,_§4-7.1_at_357-58_12-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-Sisk,_et_al,_§4-7.1_at_357-58_12-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Sisk, et al., §4-7.1 at 357-58.</span> </li> <li id="cite_note-13"><span class="mw-cite-backlink"><b><a href="#cite_ref-13">^</a></b></span> <span class="reference-text"><i>Sisk, et al., §4-7.1 at 357-58.</i></span> </li> <li id="cite_note-auto-14"><span class="mw-cite-backlink">^ <a href="#cite_ref-auto_14-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-auto_14-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><i>Flatt v. Superior Court</i>, 9 Cal. 4th 275, 282 (1994).</span> </li> <li id="cite_note-15"><span class="mw-cite-backlink"><b><a href="#cite_ref-15">^</a></b></span> <span class="reference-text"><i>Cinema 5, Ltd v. Cinerama, Inc.</i>, 528 F.2d 1384, 1387 (2d Cir. 1976).</span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text">Wolfram §7.3.2. at 350.</span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><i>Jeffry v. Pounds</i>, 67 Cal. App. 3d 8, 10 (1977).</span> </li> <li id="cite_note-18"><span class="mw-cite-backlink"><b><a href="#cite_ref-18">^</a></b></span> <span class="reference-text">Model Rules of Prof'l Conduct r. 1.7 comment 6 (Am. Bar Ass'n 1983).</span> </li> <li id="cite_note-19"><span class="mw-cite-backlink"><b><a href="#cite_ref-19">^</a></b></span> <span class="reference-text"><i>Id.</i>; Board of Prof. Ethics & Conduct v. Winkel, 599 N.W. 2d 456, 457 (Iowa 1999).</span> </li> <li id="cite_note-20"><span class="mw-cite-backlink"><b><a href="#cite_ref-20">^</a></b></span> <span class="reference-text">Model Rules of Prof'l Conduct r. 1.7 comment 7.</span> </li> <li id="cite_note-21"><span class="mw-cite-backlink"><b><a href="#cite_ref-21">^</a></b></span> <span class="reference-text">California State Bar Ethics Opinion 1989-108.</span> </li> <li id="cite_note-ReferenceA-22"><span class="mw-cite-backlink">^ <a href="#cite_ref-ReferenceA_22-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-ReferenceA_22-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><i>California State Bar Ethics Opinion 1989-108.</i></span> </li> <li id="cite_note-ReferenceB-23"><span class="mw-cite-backlink">^ <a href="#cite_ref-ReferenceB_23-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-ReferenceB_23-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-ReferenceB_23-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-ReferenceB_23-3"><sup><i><b>d</b></i></sup></a></span> <span class="reference-text">California State Bar Ethics Opinion 1989-113.</span> </li> <li id="cite_note-24"><span class="mw-cite-backlink"><b><a href="#cite_ref-24">^</a></b></span> <span class="reference-text">Model Rules of Prof'l Conduct r. 1.13.</span> </li> <li id="cite_note-25"><span class="mw-cite-backlink"><b><a href="#cite_ref-25">^</a></b></span> <span class="reference-text">Charles Wolfram, <i>Corporate Family Conflicts,</i> 2 J. Inst. for the Study of Legal Ethics 296, 331 (1999) (hereafter <i>Corporate Family Conflicts)</i>.</span> </li> <li id="cite_note-26"><span class="mw-cite-backlink"><b><a href="#cite_ref-26">^</a></b></span> <span class="reference-text">ABA Comm. on Ethics and Professional Responsibility, Formal Op. 95-390 (1995).</span> </li> <li id="cite_note-27"><span class="mw-cite-backlink"><b><a href="#cite_ref-27">^</a></b></span> <span class="reference-text"><i>Corporate Family Conflicts</i> at 331.</span> </li> <li id="cite_note-28"><span class="mw-cite-backlink"><b><a href="#cite_ref-28">^</a></b></span> <span class="reference-text">618 F.3d 204 (2d Cir. 2010).</span> </li> <li id="cite_note-29"><span class="mw-cite-backlink"><b><a href="#cite_ref-29">^</a></b></span> <span class="reference-text">618 F.3d 204 (2d Cir. 2010) at 211.</span> </li> <li id="cite_note-30"><span class="mw-cite-backlink"><b><a href="#cite_ref-30">^</a></b></span> <span class="reference-text"><i>618 F.3d 204 (2d Cir. 2010)</i> at 212.</span> </li> <li id="cite_note-31"><span class="mw-cite-backlink"><b><a href="#cite_ref-31">^</a></b></span> <span class="reference-text">Ass'n of the Bar of the City of New York Comm. on Prof. & Judicial Ethics, Formal Opinion 2007-3.</span> </li> <li id="cite_note-32"><span class="mw-cite-backlink"><b><a href="#cite_ref-32">^</a></b></span> <span class="reference-text">Model Rules of Prof'l Conduct r. 1.7 (a)(2).</span> </li> <li id="cite_note-33"><span class="mw-cite-backlink"><b><a href="#cite_ref-33">^</a></b></span> <span class="reference-text"><i>Model Rules of Prof'l Conduct r. 1.7 (a)(2),</i> Comment 8.</span> </li> <li id="cite_note-34"><span class="mw-cite-backlink"><b><a href="#cite_ref-34">^</a></b></span> <span class="reference-text">811 N.W.2d 576 (Minn. 2012) (per curiam).</span> </li> <li id="cite_note-35"><span class="mw-cite-backlink"><b><a href="#cite_ref-35">^</a></b></span> <span class="reference-text"><i>811 N.W.2d 576 (Minn. 2012) (per curiam)</i> at 582.</span> </li> <li id="cite_note-36"><span class="mw-cite-backlink"><b><a href="#cite_ref-36">^</a></b></span> <span class="reference-text">Model Rules of Prof'l Conduct r. 1.7 (b).</span> </li> <li id="cite_note-37"><span class="mw-cite-backlink"><b><a href="#cite_ref-37">^</a></b></span> <span class="reference-text">A Concise Restatement of the Law Governing Lawyers §122, comment b. (Am. Law Inst.2007).</span> </li> <li id="cite_note-38"><span class="mw-cite-backlink"><b><a href="#cite_ref-38">^</a></b></span> <span class="reference-text"><i>A Concise Restatement of the Law Governing Lawyers §122, comment c(i). (Am. Law Inst.2007).</i></span> </li> <li id="cite_note-auto1-39"><span class="mw-cite-backlink">^ <a href="#cite_ref-auto1_39-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-auto1_39-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><i>Ransburg Corp. v. Champion Spark Plug Co.</i>, 648 F. Supp. 1040, 1045-46 (N.D. Ill. 1986).</span> </li> <li id="cite_note-ReferenceD-40"><span class="mw-cite-backlink">^ <a href="#cite_ref-ReferenceD_40-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-ReferenceD_40-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">District of Columbia Bar Association Ethics Opinion 309.</span> </li> <li id="cite_note-41"><span class="mw-cite-backlink"><b><a href="#cite_ref-41">^</a></b></span> <span class="reference-text"><i>A Concise Restatement of the Law Governing Lawyers §122, comment d (Am. Law Inst.2007).</i></span> </li> <li id="cite_note-42"><span class="mw-cite-backlink"><b><a href="#cite_ref-42">^</a></b></span> <span class="reference-text">6 Cal. 5th 59 (2018).</span> </li> <li id="cite_note-43"><span class="mw-cite-backlink"><b><a href="#cite_ref-43">^</a></b></span> <span class="reference-text">6 Cal. 5th 84 (2018).</span> </li> <li id="cite_note-auto2-44"><span class="mw-cite-backlink">^ <a href="#cite_ref-auto2_44-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-auto2_44-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://www.reuters.com/article/us-otc-conflicts-idUSKCN1LG2QM">"California justices to law firms: If you have a conflict, tell your client. Or risk your fees"</a>. <i>Reuters</i>. 2018-08-31. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230509145933/https://www.reuters.com/article/us-otc-conflicts-idUSKCN1LG2QM">Archived</a> from the original on 2023-05-09<span class="reference-accessdate">. Retrieved <span class="nowrap">2023-05-09</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Reuters&rft.atitle=California+justices+to+law+firms%3A+If+you+have+a+conflict%2C+tell+your+client.+Or+risk+your+fees&rft.date=2018-08-31&rft_id=https%3A%2F%2Fwww.reuters.com%2Farticle%2Fus-otc-conflicts-idUSKCN1LG2QM&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-45"><span class="mw-cite-backlink"><b><a href="#cite_ref-45">^</a></b></span> <span class="reference-text">Picker Int'l, Inc. v. Varian Assocs., Inc., 670 F. Supp. 1363 (N.D. Ohio 1987), <i>aff'd</i>, 869 F.2d 578 (Fed. Cir. 1989).</span> </li> <li id="cite_note-46"><span class="mw-cite-backlink"><b><a href="#cite_ref-46">^</a></b></span> <span class="reference-text"><i>Picker Int'l, Inc. v. Varian Assocs., Inc.</i>, 670 F. Supp. 1363 (N.D. Ohio 1987), aff'd, 869 F.2d 578 (Fed. Cir. 1989) at 1365.</span> </li> <li id="cite_note-47"><span class="mw-cite-backlink"><b><a href="#cite_ref-47">^</a></b></span> <span class="reference-text">William T. Barker, <i>The "Hot Potato" Doctrine and the Model Rules of Professional Conduct: the Limits of a Lawyer's Duty of Loyalty,</i> 32 Georgetown j. legal ethics 327, 329 (2019).</span> </li> <li id="cite_note-48"><span class="mw-cite-backlink"><b><a href="#cite_ref-48">^</a></b></span> <span class="reference-text">William T. Barker, <i>The "Hot Potato" Doctrine and the Model Rules of Professional Conduct: the Limits of a Lawyer's Duty of Loyalty,</i> 32 Georgetown j. legal ethics 330 (2019)</span> </li> <li id="cite_note-49"><span class="mw-cite-backlink"><b><a href="#cite_ref-49">^</a></b></span> <span class="reference-text">William T. Barker, <i>The "Hot Potato" Doctrine and the Model Rules of Professional Conduct: the Limits of a Lawyer's Duty of Loyalty,</i> 32 Georgetown j. legal ethics 330 (2019).</span> </li> <li id="cite_note-50"><span class="mw-cite-backlink"><b><a href="#cite_ref-50">^</a></b></span> <span class="reference-text">William T. 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Salomon Bros.,</i> 229 Cal.App.3d 1455 (1991).</span> </li> <li id="cite_note-54"><span class="mw-cite-backlink"><b><a href="#cite_ref-54">^</a></b></span> <span class="reference-text">Restatement §123 (1).</span> </li> <li id="cite_note-55"><span class="mw-cite-backlink"><b><a href="#cite_ref-55">^</a></b></span> <span class="reference-text">183 Cal.App.4th 776 (2010).</span> </li> <li id="cite_note-56"><span class="mw-cite-backlink"><b><a href="#cite_ref-56">^</a></b></span> <span class="reference-text">183 Cal.App.4th 784 (2010).</span> </li> <li id="cite_note-57"><span class="mw-cite-backlink"><b><a href="#cite_ref-57">^</a></b></span> <span class="reference-text">183 Cal.App.4th 807-08 (2010).</span> </li> <li id="cite_note-58"><span class="mw-cite-backlink"><b><a href="#cite_ref-58">^</a></b></span> <span class="reference-text">183 Cal.App.4th 810-11 (2010).</span> </li> <li id="cite_note-59"><span class="mw-cite-backlink"><b><a href="#cite_ref-59">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://www.govinfo.gov/content/pkg/USCODE-2010-title28/pdf/USCODE-2010-title28-partI-chap21-sec455.pdf">28 U.S.C. Section 455</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210307224126/https://www.govinfo.gov/content/pkg/USCODE-2010-title28/pdf/USCODE-2010-title28-partI-chap21-sec455.pdf">Archived</a> 2021-03-07 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> (providing the standards for judicial disqualification).</span> </li> <li id="cite_note-RepublicLost-60"><span class="mw-cite-backlink">^ <a href="#cite_ref-RepublicLost_60-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-RepublicLost_60-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text">Lessig 2011, pp. 29-32</span> </li> <li id="cite_note-61"><span class="mw-cite-backlink"><b><a href="#cite_ref-61">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://books.google.com/books?id=cT1BOgQ2Ys8C&dq=john+gellene+%2215+months%22+%22conflict+of+interest%22&pg=PA11370"><i>Congressional Record</i></a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230427104852/https://books.google.com/books?id=cT1BOgQ2Ys8C&dq=john+gellene+%2215+months%22+%22conflict+of+interest%22&pg=PA11370">Archived</a> 2023-04-27 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, V. 146, Pt. 8, June 13, 2000 to June 21, 2000.</span> </li> <li id="cite_note-62"><span class="mw-cite-backlink"><b><a href="#cite_ref-62">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="https://caselaw.findlaw.com/us-7th-circuit/1148010.html"><i>US v. Gellene</i></a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180928085743/https://caselaw.findlaw.com/us-7th-circuit/1148010.html">Archived</a> 2018-09-28 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> (Seventh Circuit, 1999).</span> </li> <li id="cite_note-63"><span class="mw-cite-backlink"><b><a href="#cite_ref-63">^</a></b></span> <span class="reference-text">Corrine Cooper. <a rel="nofollow" class="external text" href="https://books.google.com/books?id=0gJ29QfukWkC&dq=john+gellene+%2215+months%22&pg=PA304"><i>Attorney Liability in Bankruptcy</i></a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20230427104850/https://books.google.com/books?id=0gJ29QfukWkC&dq=john+gellene+%2215+months%22&pg=PA304">Archived</a> 2023-04-27 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a> (2006).</span> </li> <li id="cite_note-64"><span class="mw-cite-backlink"><b><a href="#cite_ref-64">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.americanbar.org/groups/professional_responsibility/publications/model_rules_of_professional_conduct/rule_1_7_conflict_of_interest_current_clients.html">"Rule 1.7: Conflict of Interest: Current Clients | The Center for Professional Responsibility"</a>. <i>www.americanbar.org</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170427213656/http://www.americanbar.org/groups/professional_responsibility/publications/model_rules_of_professional_conduct/rule_1_7_conflict_of_interest_current_clients.html">Archived</a> from the original on 2017-04-27<span class="reference-accessdate">. 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Boundless. July 21, 2015. Archived from <a rel="nofollow" class="external text" href="https://www.boundless.com/business/textbooks/boundless-business-textbook/business-ethics-and-social-responsibility-3/business-ethics-33/conflicts-of-interest-177-10244/">the original</a> on October 12, 2015.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=bookitem&rft.atitle=Conflicts+of+Interest&rft.btitle=Boundless+Business&rft.pub=Boundless&rft.date=2015-07-21&rft_id=https%3A%2F%2Fwww.boundless.com%2Fbusiness%2Ftextbooks%2Fboundless-business-textbook%2Fbusiness-ethics-and-social-responsibility-3%2Fbusiness-ethics-33%2Fconflicts-of-interest-177-10244%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-75"><span class="mw-cite-backlink"><b><a href="#cite_ref-75">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBaker2008" class="citation book cs1">Baker, Nena (2008). <a rel="nofollow" class="external text" href="http://www.thebodytoxic.com/"><i>The Body Toxic</i></a>. 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Retrieved <span class="nowrap">2012-01-28</span></span>. <q>cited from Lessig 2011, p. 25</q></cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Body+Toxic&rft.pages=142&rft.pub=North+Point+Press&rft.date=2008&rft.aulast=Baker&rft.aufirst=Nena&rft_id=http%3A%2F%2Fwww.thebodytoxic.com%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-76"><span class="mw-cite-backlink"><b><a href="#cite_ref-76">^</a></b></span> <span class="reference-text"><a href="/wiki/Fisher%27s_exact_test" title="Fisher's exact test">Fisher's exact test</a> computed using the fisher.test function in the <a href="/wiki/R_(programming_language)" title="R (programming language)">R</a> programming language returned a significance probability of 2e-13, i.e., there are 200 chances in a million billion of getting a table as extreme as this with the given marginals by chance alone. 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Retrieved <span class="nowrap">6 December</span> 2020</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=The+Private+Interests+of+Public+Officials%3A+Financial+Regulation+in+the+U.S.+Congress&rft.pub=e+SoCLASS+III%3A+Regulation%2C+Law%2C+and+Social+Science%2C+University+of+Southern+California&rft.aulast=Peterson&rft.aufirst=Jordan+C.&rft.au=Grose%2C+Christian+R.&rft_id=https%3A%2F%2Fdornsife.usc.edu%2Fassets%2Fsites%2F741%2Fdocs%2FPanel_2a_paper2_Peterson_Grose_SoCLASS_032515.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-84"><span class="mw-cite-backlink"><b><a href="#cite_ref-84">^</a></b></span> <span class="reference-text">Thompson (1995)</span> </li> <li id="cite_note-85"><span class="mw-cite-backlink"><b><a href="#cite_ref-85">^</a></b></span> <span class="reference-text">Kerr, Robert S. 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Norton. pp. 5–6.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Freefall%3A+America%2C+Free+Markets%2C+and+the+Shrinking+of+the+World+Economy&rft.pages=5-6&rft.pub=Norton&rft.date=2010&rft.aulast=Stiglitz&rft.aufirst=Joseph+E.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-91"><span class="mw-cite-backlink"><b><a href="#cite_ref-91">^</a></b></span> <span class="reference-text">Johnson, Eliana (2014). "<a rel="nofollow" class="external text" href="http://www.nationalreview.com/article/378122/joseph-stiglitzs-curious-outside-activities-eliana-johnson">Joseph Stiglitz's Curious 'Outside Activities': The self-styled champion of the poor is not eager to disclose his ties with foreign leaders</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160315005203/http://www.nationalreview.com/article/378122/joseph-stiglitzs-curious-outside-activities-eliana-johnson">Archived</a> 2016-03-15 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>." National Review Online, May 16, 2014; URL accessed 14 March 2016</span> </li> <li id="cite_note-92"><span class="mw-cite-backlink"><b><a href="#cite_ref-92">^</a></b></span> <span class="reference-text">Lessig 2011, p. 83</span> </li> <li id="cite_note-93"><span class="mw-cite-backlink"><b><a href="#cite_ref-93">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFSachs2011" class="citation book cs1"><a href="/wiki/Jeffrey_Sachs" title="Jeffrey Sachs">Sachs, Jeffrey D.</a> (2011). <i>The Price of Civilization: Reawakening American Virtue and Prosperity</i>. Random House. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-679-60502-7" title="Special:BookSources/978-0-679-60502-7"><bdi>978-0-679-60502-7</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Price+of+Civilization%3A+Reawakening+American+Virtue+and+Prosperity&rft.pub=Random+House&rft.date=2011&rft.isbn=978-0-679-60502-7&rft.aulast=Sachs&rft.aufirst=Jeffrey+D.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-94"><span class="mw-cite-backlink"><b><a href="#cite_ref-94">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFReinhartRogoff2009" class="citation book cs1"><a href="/wiki/Carmen_Reinhart" title="Carmen Reinhart">Reinhart, Carmen M.</a>; <a href="/wiki/Kenneth_Rogoff" title="Kenneth Rogoff">Rogoff, Kenneth S.</a> (2009). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/thistimeisdiffer00rein_0"><i>This Time Is Different: Eight Centuries of Financial Folly</i></a></span>. Princeton University Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-691-15264-6" title="Special:BookSources/978-0-691-15264-6"><bdi>978-0-691-15264-6</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=This+Time+Is+Different%3A+Eight+Centuries+of+Financial+Folly&rft.pub=Princeton+University+Press&rft.date=2009&rft.isbn=978-0-691-15264-6&rft.aulast=Reinhart&rft.aufirst=Carmen+M.&rft.au=Rogoff%2C+Kenneth+S.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fthistimeisdiffer00rein_0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-95"><span class="mw-cite-backlink"><b><a href="#cite_ref-95">^</a></b></span> <span class="reference-text"> <a rel="nofollow" class="external text" href="http://www.peri.umass.edu/fileadmin/pdf/other_publication_types/AEA_letter_Jan3b.pdf">We strongly urge the American Economic Association (AEA) to adopt a code of ethics that requires disclosure of potential conflicts of interest that can arise between economists’ roles as economic experts and as paid consultants, principals or agents for private firms.</a>", letter to the <a href="/wiki/American_Economic_Association" title="American Economic Association">American Economic Association</a>, 3 January 2011. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110125013032/http://www.peri.umass.edu/fileadmin/pdf/other_publication_types/AEA_letter_Jan3b.pdf">Archived</a> 2011-01-25 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>.</span> </li> <li id="cite_note-96"><span class="mw-cite-backlink"><b><a href="#cite_ref-96">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLahart2011" class="citation web cs1">Lahart, Justin (12 October 2011). <span class="id-lock-subscription" title="Paid subscription required"><a rel="nofollow" class="external text" href="https://www.wsj.com/articles/SB10001424052970204294504576613032849864232">"Stung by 'Inside Job,' economists pen a code of ethics"</a></span>. <i><a href="/wiki/The_Wall_Street_Journal" title="The Wall Street Journal">The Wall Street Journal</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180213063220/https://www.wsj.com/articles/SB10001424052970204294504576613032849864232">Archived</a> from the original on 2018-02-13.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Wall+Street+Journal&rft.atitle=Stung+by+%27Inside+Job%2C%27+economists+pen+a+code+of+ethics&rft.date=2011-10-12&rft.aulast=Lahart&rft.aufirst=Justin&rft_id=https%3A%2F%2Fwww.wsj.com%2Farticles%2FSB10001424052970204294504576613032849864232&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-97"><span class="mw-cite-backlink"><b><a href="#cite_ref-97">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://www.economist.com/node/17849319">"Dismal ethics, An intensifying debate about the case for a professional code of ethics for economists"</a>, <i><a href="/wiki/The_Economist" title="The Economist">The Economist</a></i>, 6 January 2011. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120126035721/http://www.economist.com/node/17849319">Archived</a> 2012-01-26 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>.</span> </li> <li id="cite_note-98"><span class="mw-cite-backlink"><b><a href="#cite_ref-98">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCasselman2012" class="citation web cs1">Casselman, Ben (9 January 2012). <span class="id-lock-subscription" title="Paid subscription required"><a rel="nofollow" class="external text" href="https://www.wsj.com/articles/SB10001424052970203436904577148940410667970">"Economists set rules on ethics"</a></span>. <i>The Wall Street Journal</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170712185058/https://www.wsj.com/articles/SB10001424052970203436904577148940410667970">Archived</a> from the original on 2017-07-12.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=The+Wall+Street+Journal&rft.atitle=Economists+set+rules+on+ethics&rft.date=2012-01-09&rft.aulast=Casselman&rft.aufirst=Ben&rft_id=https%3A%2F%2Fwww.wsj.com%2Farticles%2FSB10001424052970203436904577148940410667970&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-Mehran-99"><span class="mw-cite-backlink"><b><a href="#cite_ref-Mehran_99-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMehran2006" class="citation journal cs1">Mehran, Hamid (2006). <a rel="nofollow" class="external text" href="http://www.nber.org/papers/w12695.pdf">"Economics of Conflicts of Interest in Financial Institutions"</a> <span class="cs1-format">(PDF)</span>. <i>National Bureau of Economic Research</i>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.2139%2Fssrn.943447">10.2139/ssrn.943447</a>. <a href="/wiki/S2CID_(identifier)" class="mw-redirect" title="S2CID (identifier)">S2CID</a> <a rel="nofollow" class="external text" href="https://api.semanticscholar.org/CorpusID:16388533">16388533</a>. <a href="/wiki/SSRN_(identifier)" class="mw-redirect" title="SSRN (identifier)">SSRN</a> <a rel="nofollow" class="external text" href="https://papers.ssrn.com/sol3/papers.cfm?abstract_id=943447">943447</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180601224550/http://www.nber.org/papers/w12695.pdf">Archived</a> <span class="cs1-format">(PDF)</span> from the original on 2018-06-01<span class="reference-accessdate">. Retrieved <span class="nowrap">2019-08-29</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=National+Bureau+of+Economic+Research&rft.atitle=Economics+of+Conflicts+of+Interest+in+Financial+Institutions&rft.date=2006&rft_id=https%3A%2F%2Fapi.semanticscholar.org%2FCorpusID%3A16388533%23id-name%3DS2CID&rft_id=https%3A%2F%2Fpapers.ssrn.com%2Fsol3%2Fpapers.cfm%3Fabstract_id%3D943447%23id-name%3DSSRN&rft_id=info%3Adoi%2F10.2139%2Fssrn.943447&rft.aulast=Mehran&rft.aufirst=Hamid&rft_id=http%3A%2F%2Fwww.nber.org%2Fpapers%2Fw12695.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-100"><span class="mw-cite-backlink"><b><a href="#cite_ref-100">^</a></b></span> <span class="reference-text">17 C.F.R. § 240.15c3–1(c)(8)</span> </li> <li id="cite_note-101"><span class="mw-cite-backlink"><b><a href="#cite_ref-101">^</a></b></span> <span class="reference-text"><i>Rabin v. John Doe Market Makers.</i>, 254 F.Supp.3d 754 (2015)</span> </li> <li id="cite_note-HermChom-102"><span class="mw-cite-backlink"><b><a href="#cite_ref-HermChom_102-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFHermanChomsky1988" class="citation book cs1"><a href="/wiki/Edward_S._Herman" title="Edward S. Herman">Herman, Edward S.</a>; <a href="/wiki/Noam_Chomsky" title="Noam Chomsky">Chomsky, Noam</a> (1988). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/isbn_9780679720348"><i>Manufacturing Consent: The Political Economy of the Mass Media</i></a></span>. Pantheon. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-394-54926-2" title="Special:BookSources/978-0-394-54926-2"><bdi>978-0-394-54926-2</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Manufacturing+Consent%3A+The+Political+Economy+of+the+Mass+Media&rft.pub=Pantheon&rft.date=1988&rft.isbn=978-0-394-54926-2&rft.aulast=Herman&rft.aufirst=Edward+S.&rft.au=Chomsky%2C+Noam&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fisbn_9780679720348&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-ProblemMedia-103"><span class="mw-cite-backlink">^ <a href="#cite_ref-ProblemMedia_103-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-ProblemMedia_103-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-ProblemMedia_103-2"><sup><i><b>c</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcChesney2004" class="citation book cs1"><a href="/wiki/Robert_W._McChesney" title="Robert W. McChesney">McChesney, Robert W.</a> (2004). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/problemofmediaus00mcch"><i>The Problem of the Media: U.S. Communication Politics in the 21st Century</i></a></span>. Monthly Review Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-58367-105-4" title="Special:BookSources/978-1-58367-105-4"><bdi>978-1-58367-105-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Problem+of+the+Media%3A+U.S.+Communication+Politics+in+the+21st+Century&rft.pub=Monthly+Review+Press&rft.date=2004&rft.isbn=978-1-58367-105-4&rft.aulast=McChesney&rft.aufirst=Robert+W.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fproblemofmediaus00mcch&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-McC-polEcon-104"><span class="mw-cite-backlink"><b><a href="#cite_ref-McC-polEcon_104-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcCheney2008" class="citation book cs1"><a href="/wiki/Robert_W._McChesney" title="Robert W. McChesney">McCheney, Robert W.</a> (2008). <a rel="nofollow" class="external text" href="http://monthlyreview.org/press/books/pb1610/"><i>The Political Economy of the Media: Enduring Issues, Emerging Dilemmas</i></a>. Monthly Review Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-58367-161-0" title="Special:BookSources/978-1-58367-161-0"><bdi>978-1-58367-161-0</bdi></a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20120129085744/http://monthlyreview.org/press/books/pb1610/">Archived</a> from the original on 2012-01-29<span class="reference-accessdate">. Retrieved <span class="nowrap">2012-02-09</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Political+Economy+of+the+Media%3A+Enduring+Issues%2C+Emerging+Dilemmas&rft.pub=Monthly+Review+Press&rft.date=2008&rft.isbn=978-1-58367-161-0&rft.aulast=McCheney&rft.aufirst=Robert+W.&rft_id=http%3A%2F%2Fmonthlyreview.org%2Fpress%2Fbooks%2Fpb1610%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-105"><span class="mw-cite-backlink"><b><a href="#cite_ref-105">^</a></b></span> <span class="reference-text">Lowry, Brian. <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://variety.com/2004/scene/columns/fox-gives-nielsen-politicos-a-lesson-in-hardball-1117904718/">"Fox gives Nielsen, politicos a lesson in hardball"</a>. 2004-05-12. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20170708154700/http://variety.com/2004/scene/columns/fox-gives-nielsen-politicos-a-lesson-in-hardball-1117904718/">Archived</a> from the original on 2017-07-08<span class="reference-accessdate">. Retrieved <span class="nowrap">2017-12-12</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Fox+gives+Nielsen%2C+politicos+a+lesson+in+hardball&rft.date=2004-05-12&rft_id=https%3A%2F%2Fvariety.com%2F2004%2Fscene%2Fcolumns%2Ffox-gives-nielsen-politicos-a-lesson-in-hardball-1117904718%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span> Variety: August 16–22, 2004, Vol 395 Issue 13, p 14-16, 2p.</span> </li> <li id="cite_note-106"><span class="mw-cite-backlink"><b><a href="#cite_ref-106">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBiancoGrover2004" class="citation news cs1">Bianco, Anthony; Grover, Ronald (September 20, 2004). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20041030233236/http://www.businessweek.com/magazine/content/04_38/b3900100_mz017.htm">"How Nielsen Stood Up to Murdoch"</a>. <i>Business Week</i>. Archived from <a rel="nofollow" class="external text" href="http://www.businessweek.com/magazine/content/04_38/b3900100_mz017.htm">the original</a> on October 30, 2004.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Business+Week&rft.atitle=How+Nielsen+Stood+Up+to+Murdoch&rft.date=2004-09-20&rft.aulast=Bianco&rft.aufirst=Anthony&rft.au=Grover%2C+Ronald&rft_id=http%3A%2F%2Fwww.businessweek.com%2Fmagazine%2Fcontent%2F04_38%2Fb3900100_mz017.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-107"><span class="mw-cite-backlink"><b><a href="#cite_ref-107">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPotterKappeler1998" class="citation book cs1">Potter, Gary W.; Kappeler, Victor E., eds. (1998). <i>Constructing Crime: Perspectives on Making News and Social Problems</i>. Waveland Press. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-88133-984-0" title="Special:BookSources/978-0-88133-984-0"><bdi>978-0-88133-984-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Constructing+Crime%3A+Perspectives+on+Making+News+and+Social+Problems&rft.pub=Waveland+Press&rft.date=1998&rft.isbn=978-0-88133-984-0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-108"><span class="mw-cite-backlink"><b><a href="#cite_ref-108">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcChesney2008" class="citation book cs1"><a href="/wiki/Robert_W._McChesney" title="Robert W. McChesney">McChesney, Robert W.</a> (2008). <i>The Political Economy of the Media: Enduring Issues, Emerging Dilemmas</i>. Monthly Review Pr. pp. 335–337. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-58367-161-0" title="Special:BookSources/978-1-58367-161-0"><bdi>978-1-58367-161-0</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Political+Economy+of+the+Media%3A+Enduring+Issues%2C+Emerging+Dilemmas&rft.pages=335-337&rft.pub=Monthly+Review+Pr.&rft.date=2008&rft.isbn=978-1-58367-161-0&rft.aulast=McChesney&rft.aufirst=Robert+W.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-109"><span class="mw-cite-backlink"><b><a href="#cite_ref-109">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLessig2004" class="citation book cs1"><a href="/wiki/Lawrence_Lessig" title="Lawrence Lessig">Lessig, Lawrence</a> (2004). <a href="/wiki/Free_Culture_(book)" title="Free Culture (book)"><i>Free Culture</i></a>. 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Archived from <a rel="nofollow" class="external text" href="http://www.nationalcrimeagency.gov.uk/news/news-listings/563-resignation-of-non-executive-director">the original</a> on 5 September 2015<span class="reference-accessdate">. Retrieved <span class="nowrap">26 April</span> 2015</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Resignation+of+non-executive+director&rft.pub=National+Crime+Agency&rft.date=2015-03-13&rft_id=http%3A%2F%2Fwww.nationalcrimeagency.gov.uk%2Fnews%2Fnews-listings%2F563-resignation-of-non-executive-director&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-111"><span class="mw-cite-backlink"><b><a href="#cite_ref-111">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBirdsong2019" class="citation web cs1">Birdsong, Nicholas (January 2019). <a rel="nofollow" class="external text" href="https://web.archive.org/web/20190416005348/http://www.ncsl.org/research/ethics/preventing-conflicts-of-interest-with-blind-trusts.aspx">"Preventing Conflicts of Interest with Blind Trusts"</a>. <i>National Conference of State Legislatures</i>. Archived from <a rel="nofollow" class="external text" href="http://www.ncsl.org/research/ethics/preventing-conflicts-of-interest-with-blind-trusts.aspx">the original</a> on 2019-04-16<span class="reference-accessdate">. Retrieved <span class="nowrap">2019-04-24</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=National+Conference+of+State+Legislatures&rft.atitle=Preventing+Conflicts+of+Interest+with+Blind+Trusts&rft.date=2019-01&rft.aulast=Birdsong&rft.aufirst=Nicholas&rft_id=http%3A%2F%2Fwww.ncsl.org%2Fresearch%2Fethics%2Fpreventing-conflicts-of-interest-with-blind-trusts.aspx&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-112"><span class="mw-cite-backlink"><b><a href="#cite_ref-112">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20190424070904/https://www.peaceisloud.org/wp-content/uploads/2017/04/Funding-of-Political-Parties-and-Election-Campaigns-A-Handbook-on-Political-Finance.pdf">"Funding of Political Parties and Election Campaigns: A Handbook on Political Finance"</a> <span class="cs1-format">(PDF)</span>. <i>Peace is Loud</i>. International Institute for Democracy and Electoral Assistance. p. 30. Archived from <a rel="nofollow" class="external text" href="https://www.peaceisloud.org/wp-content/uploads/2017/04/Funding-of-Political-Parties-and-Election-Campaigns-A-Handbook-on-Political-Finance.pdf">the original</a> <span class="cs1-format">(PDF)</span> on 24 April 2019<span class="reference-accessdate">. Retrieved <span class="nowrap">24 April</span> 2019</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Peace+is+Loud&rft.atitle=Funding+of+Political+Parties+and+Election+Campaigns%3A+A+Handbook+on+Political+Finance&rft.pages=30&rft_id=https%3A%2F%2Fwww.peaceisloud.org%2Fwp-content%2Fuploads%2F2017%2F04%2FFunding-of-Political-Parties-and-Election-Campaigns-A-Handbook-on-Political-Finance.pdf&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-113"><span class="mw-cite-backlink"><b><a href="#cite_ref-113">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFInstitute_of_Medicine2009" class="citation journal cs1">Institute of Medicine (2009). "Conflict of Interest in Research, Education and Practice". <i>National Academies Press</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=National+Academies+Press&rft.atitle=Conflict+of+Interest+in+Research%2C+Education+and+Practice&rft.date=2009&rft.au=Institute+of+Medicine&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-114"><span class="mw-cite-backlink"><b><a href="#cite_ref-114">^</a></b></span> <span class="reference-text"><a rel="nofollow" class="external text" href="http://jama.jamanetwork.com/article.aspx?articleid=1475179">"Article"</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20130305055424/http://jama.jamanetwork.com/article.aspx?articleid=1475179">Archived</a> 2013-03-05 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, <i>Journal of the American Medical Association</i>, 2012.</span> </li> <li id="cite_note-115"><span class="mw-cite-backlink"><b><a href="#cite_ref-115">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFKimLawrence_MummDeborah_Korenstein2012" class="citation journal cs1">Kim, Azalea; Lawrence Mumm; Deborah Korenstein (5 December 2012). "Routine Conflict of Interest Disclosure by Preclinical Lecturers and Medical Students' Attitudes Toward the Pharmaceutical and Device Industries". <i>Journal of the American Medical Association</i>. <b>308</b> (21): 2187–2189. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1001%2Fjama.2012.25315">10.1001/jama.2012.25315</a>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/23212492">23212492</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+the+American+Medical+Association&rft.atitle=Routine+Conflict+of+Interest+Disclosure+by+Preclinical+Lecturers+and+Medical+Students%27+Attitudes+Toward+the+Pharmaceutical+and+Device+Industries&rft.volume=308&rft.issue=21&rft.pages=2187-2189&rft.date=2012-12-05&rft_id=info%3Adoi%2F10.1001%2Fjama.2012.25315&rft_id=info%3Apmid%2F23212492&rft.aulast=Kim&rft.aufirst=Azalea&rft.au=Lawrence+Mumm&rft.au=Deborah+Korenstein&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> <li id="cite_note-116"><span class="mw-cite-backlink"><b><a href="#cite_ref-116">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFCainDestksy2008" class="citation journal cs1">Cain, D. M.; Destksy, A. (2008). "Everyone's a little bit biased (even physicians)". <i>Journal of the American Medical Association</i>. <b>299</b> (24): 2893–2895. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1001%2Fjama.299.24.2893">10.1001/jama.299.24.2893</a>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/18577735">18577735</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Journal+of+the+American+Medical+Association&rft.atitle=Everyone%27s+a+little+bit+biased+%28even+physicians%29&rft.volume=299&rft.issue=24&rft.pages=2893-2895&rft.date=2008&rft_id=info%3Adoi%2F10.1001%2Fjama.299.24.2893&rft_id=info%3Apmid%2F18577735&rft.aulast=Cain&rft.aufirst=D.+M.&rft.au=Destksy%2C+A.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></span> </li> </ol></div> <div class="mw-heading mw-heading2"><h2 id="Further_reading">Further reading</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=36" title="Edit section: Further reading"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Nicola_Acocella" title="Nicola Acocella">Acocella, N.</a> and Di Bartolomeo, G. and Piacquadio, P.G. [2009], <b>Conflict of interest, (implicit) coalitions and Nash policy games</b>, in: <b>Economics Letters</b>, 105: 303–305.</li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBlack2005" class="citation book cs1"><a href="/wiki/William_K._Black" title="William K. Black">Black, William K.</a> (2005). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/bestwaytorobbank0000blac"><i>The Best Way to Rob a Bank Is to Own One</i></a></span>. Austin, TX: <a href="/wiki/University_of_Texas_Press" title="University of Texas Press">University of Texas Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-292-72139-5" title="Special:BookSources/978-0-292-72139-5"><bdi>978-0-292-72139-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Best+Way+to+Rob+a+Bank+Is+to+Own+One&rft.place=Austin%2C+TX&rft.pub=University+of+Texas+Press&rft.date=2005&rft.isbn=978-0-292-72139-5&rft.aulast=Black&rft.aufirst=William+K.&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fbestwaytorobbank0000blac&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFDavisAndrew_Stark2001" class="citation book cs1">Davis, Michael; Andrew Stark (2001). <i>Conflict of interest in the professions</i>. <a href="/wiki/Oxford" title="Oxford">Oxford</a>: <a href="/wiki/Oxford_University_Press" title="Oxford University Press">Oxford University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-19-512863-5" title="Special:BookSources/978-0-19-512863-5"><bdi>978-0-19-512863-5</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Conflict+of+interest+in+the+professions&rft.place=Oxford&rft.pub=Oxford+University+Press&rft.date=2001&rft.isbn=978-0-19-512863-5&rft.aulast=Davis&rft.aufirst=Michael&rft.au=Andrew+Stark&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLessig2011" class="citation book cs1"><a href="/wiki/Lawrence_Lessig" title="Lawrence Lessig">Lessig, Lawrence</a> (2011). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/republiclosthowm00less_0"><i>Republic, Lost: How Money Corrupts Congress -- and a Plan to Stop It</i></a></span>. Twelve. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-446-57643-7" title="Special:BookSources/978-0-446-57643-7"><bdi>978-0-446-57643-7</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Republic%2C+Lost%3A+How+Money+Corrupts+Congress+--+and+a+Plan+to+Stop+It&rft.pub=Twelve&rft.date=2011&rft.isbn=978-0-446-57643-7&rft.aulast=Lessig&rft.aufirst=Lawrence&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Frepubliclosthowm00less_0&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLoMarilyn_J._Field2009" class="citation book cs1">Lo, Bernard; Marilyn J. Field (2009). <i>Conflict of Interest in Medical Research, Education, and Practice</i>. <a href="/wiki/Washington,_D.C." title="Washington, D.C.">Washington, D.C.</a>: <a href="/wiki/National_Academies_Press" title="National Academies Press">National Academies Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-309-13188-9" title="Special:BookSources/978-0-309-13188-9"><bdi>978-0-309-13188-9</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Conflict+of+Interest+in+Medical+Research%2C+Education%2C+and+Practice&rft.place=Washington%2C+D.C.&rft.pub=National+Academies+Press&rft.date=2009&rft.isbn=978-0-309-13188-9&rft.aulast=Lo&rft.aufirst=Bernard&rft.au=Marilyn+J.+Field&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFPorterThomas_E._Malone1992" class="citation book cs1">Porter, Roger J.; Thomas E. Malone (1992). <i>Biomedical research: collaboration and conflict of interest</i>. <a href="/wiki/Baltimore" title="Baltimore">Baltimore</a>: <a href="/wiki/Johns_Hopkins_University_Press" title="Johns Hopkins University Press">Johns Hopkins University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8018-4400-3" title="Special:BookSources/978-0-8018-4400-3"><bdi>978-0-8018-4400-3</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Biomedical+research%3A+collaboration+and+conflict+of+interest&rft.place=Baltimore&rft.pub=Johns+Hopkins+University+Press&rft.date=1992&rft.isbn=978-0-8018-4400-3&rft.aulast=Porter&rft.aufirst=Roger+J.&rft.au=Thomas+E.+Malone&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFThompson1995" class="citation book cs1">Thompson, Dennis (1995). <span class="id-lock-registration" title="Free registration required"><a rel="nofollow" class="external text" href="https://archive.org/details/ethicsincongress0000thom"><i>Ethics in Congress: From Individual to Institutional Corruption</i></a></span>. <a href="/wiki/Washington,_D.C." title="Washington, D.C.">Washington, D.C.</a>: <a href="/wiki/Brookings_Institution_Press" class="mw-redirect" title="Brookings Institution Press">Brookings Institution Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-0-8157-8423-4" title="Special:BookSources/978-0-8157-8423-4"><bdi>978-0-8157-8423-4</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Ethics+in+Congress%3A+From+Individual+to+Institutional+Corruption&rft.place=Washington%2C+D.C.&rft.pub=Brookings+Institution+Press&rft.date=1995&rft.isbn=978-0-8157-8423-4&rft.aulast=Thompson&rft.aufirst=Dennis&rft_id=https%3A%2F%2Farchive.org%2Fdetails%2Fethicsincongress0000thom&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFThompson1993" class="citation journal cs1">Thompson, Dennis (1993). "Understanding financial conflicts of interest". <i>New England Journal of Medicine</i>. <b>329</b> (8): 573–76. <a href="/wiki/CiteSeerX_(identifier)" class="mw-redirect" title="CiteSeerX (identifier)">CiteSeerX</a> <span class="id-lock-free" title="Freely accessible"><a rel="nofollow" class="external text" href="https://citeseerx.ist.psu.edu/viewdoc/summary?doi=10.1.1.466.1945">10.1.1.466.1945</a></span>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1056%2FNEJM199308193290812">10.1056/NEJM199308193290812</a>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/8336759">8336759</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=New+England+Journal+of+Medicine&rft.atitle=Understanding+financial+conflicts+of+interest&rft.volume=329&rft.issue=8&rft.pages=573-76&rft.date=1993&rft_id=https%3A%2F%2Fciteseerx.ist.psu.edu%2Fviewdoc%2Fsummary%3Fdoi%3D10.1.1.466.1945%23id-name%3DCiteSeerX&rft_id=info%3Apmid%2F8336759&rft_id=info%3Adoi%2F10.1056%2FNEJM199308193290812&rft.aulast=Thompson&rft.aufirst=Dennis&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li></ul> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=Conflict_of_interest&action=edit&section=37" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1235681985">.mw-parser-output .side-box{margin:4px 0;box-sizing:border-box;border:1px solid #aaa;font-size:88%;line-height:1.25em;background-color:var(--background-color-interactive-subtle,#f8f9fa);display:flow-root}.mw-parser-output .side-box-abovebelow,.mw-parser-output .side-box-text{padding:0.25em 0.9em}.mw-parser-output .side-box-image{padding:2px 0 2px 0.9em;text-align:center}.mw-parser-output .side-box-imageright{padding:2px 0.9em 2px 0;text-align:center}@media(min-width:500px){.mw-parser-output .side-box-flex{display:flex;align-items:center}.mw-parser-output .side-box-text{flex:1;min-width:0}}@media(min-width:720px){.mw-parser-output .side-box{width:238px}.mw-parser-output .side-box-right{clear:right;float:right;margin-left:1em}.mw-parser-output .side-box-left{margin-right:1em}}</style><style data-mw-deduplicate="TemplateStyles:r1237033735">@media print{body.ns-0 .mw-parser-output .sistersitebox{display:none!important}}@media screen{html.skin-theme-clientpref-night .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .sistersitebox img[src*="Wiktionary-logo-en-v2.svg"]{background-color:white}}</style><div class="side-box side-box-right plainlinks sistersitebox"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style> <div class="side-box-flex"> <div class="side-box-image"><span class="noviewer" typeof="mw:File"><span><img alt="" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/34px-Wikiquote-logo.svg.png" decoding="async" width="34" height="40" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/51px-Wikiquote-logo.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Wikiquote-logo.svg/68px-Wikiquote-logo.svg.png 2x" data-file-width="300" data-file-height="355" /></span></span></div> <div class="side-box-text plainlist">Wikiquote has quotations related to <i><b><a href="https://en.wikiquote.org/wiki/Special:Search/Conflict_of_interest" class="extiw" title="q:Special:Search/Conflict of interest">Conflict of interest</a></b></i>.</div></div> </div> <ul><li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFThacker2006" class="citation journal cs1"><a href="/wiki/Paul_D._Thacker" title="Paul D. Thacker">Thacker, Paul D.</a> (November 2006). "Environmental journals feel pressure to adopt disclosure rules". <i><a href="/wiki/Environmental_Science_%26_Technology" title="Environmental Science & Technology">Environmental Science & Technology</a></i>. <b>40</b> (22): 6873–6875. <a href="/wiki/Bibcode_(identifier)" class="mw-redirect" title="Bibcode (identifier)">Bibcode</a>:<a rel="nofollow" class="external text" href="https://ui.adsabs.harvard.edu/abs/2006EnST...40.6873T">2006EnST...40.6873T</a>. <a href="/wiki/Doi_(identifier)" class="mw-redirect" title="Doi (identifier)">doi</a>:<a rel="nofollow" class="external text" href="https://doi.org/10.1021%2Fes062808a">10.1021/es062808a</a>. <a href="/wiki/PMID_(identifier)" class="mw-redirect" title="PMID (identifier)">PMID</a> <a rel="nofollow" class="external text" href="https://pubmed.ncbi.nlm.nih.gov/17153989">17153989</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Environmental+Science+%26+Technology&rft.atitle=Environmental+journals+feel+pressure+to+adopt+disclosure+rules&rft.volume=40&rft.issue=22&rft.pages=6873-6875&rft.date=2006-11&rft_id=info%3Apmid%2F17153989&rft_id=info%3Adoi%2F10.1021%2Fes062808a&rft_id=info%3Abibcode%2F2006EnST...40.6873T&rft.aulast=Thacker&rft.aufirst=Paul+D.&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcDonald" class="citation web cs1">McDonald, Michael. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20071103060225/http://www.ethics.ubc.ca/people/mcdonald/conflict.htm">"Ethics and Conflict of Interest"</a>. W. Maurice Young Centre for Applied Ethics. Archived from <a rel="nofollow" class="external text" href="http://www.ethics.ubc.ca/people/mcdonald/conflict.htm">the original</a> on 2007-11-03.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=Ethics+and+Conflict+of+Interest&rft.pub=W.+Maurice+Young+Centre+for+Applied+Ethics&rft.aulast=McDonald&rft.aufirst=Michael&rft_id=http%3A%2F%2Fwww.ethics.ubc.ca%2Fpeople%2Fmcdonald%2Fconflict.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li> <li><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.complylog.com/glossary/what-is-a-conflict-of-interest/">"What is Conflict of Interest"</a>. ComplyLog.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=What+is+Conflict+of+Interest&rft.pub=ComplyLog&rft_id=https%3A%2F%2Fwww.complylog.com%2Fglossary%2Fwhat-is-a-conflict-of-interest%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AConflict+of+interest" class="Z3988"></span></li></ul> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><style data-mw-deduplicate="TemplateStyles:r1236075235">.mw-parser-output .navbox{box-sizing:border-box;border:1px solid #a2a9b1;width:100%;clear:both;font-size:88%;text-align:center;padding:1px;margin:1em auto 0}.mw-parser-output .navbox .navbox{margin-top:0}.mw-parser-output .navbox+.navbox,.mw-parser-output .navbox+.navbox-styles+.navbox{margin-top:-1px}.mw-parser-output .navbox-inner,.mw-parser-output .navbox-subgroup{width:100%}.mw-parser-output .navbox-group,.mw-parser-output .navbox-title,.mw-parser-output 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href="/wiki/Chinese_wall" title="Chinese wall">Chinese wall</a></li> <li><a href="/wiki/Conflict_of_interest_in_the_healthcare_industry" title="Conflict of interest in the healthcare industry">Conflict of interest in the healthcare industry</a></li> <li><a href="/wiki/Conflict-of-interest_editing_on_Wikipedia" title="Conflict-of-interest editing on Wikipedia">Conflicts of interest on Wikipedia</a></li> <li><a href="/wiki/Funding_bias" title="Funding bias">Funding bias</a></li> <li><a href="/wiki/Insider_trading" title="Insider trading">Insider trading</a></li> <li><a href="/wiki/Judicial_disqualification" class="mw-redirect" title="Judicial disqualification">Judicial disqualification</a></li> <li><a href="/wiki/Nepotism" title="Nepotism">Nepotism</a></li> <li><a href="/wiki/Regulatory_capture" title="Regulatory capture">Regulatory capture</a></li> <li><a href="/wiki/Self-dealing" title="Self-dealing">Self-dealing</a></li> <li><a href="/wiki/Industry_self-regulation" title="Industry self-regulation">Self-regulation</a></li> <li><a href="/wiki/State_capture" title="State capture">State capture</a></li> <li><a href="/wiki/Shill" title="Shill">Shill</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/AllTrials" title="AllTrials">AllTrials</a></li> <li><a href="/wiki/Arm%27s_length_principle" title="Arm's length principle">Arm's length principle</a></li> <li><a href="/wiki/Bias" title="Bias">Bias</a></li> <li><a href="/wiki/Business_ethics" title="Business ethics">Business ethics</a></li> <li><a href="/wiki/Cochrane_(organisation)" title="Cochrane (organisation)">Cochrane</a></li> <li><a href="/wiki/Corruption" title="Corruption">Corruption</a></li> <li><i><a href="/wiki/Cui_bono" class="mw-redirect" title="Cui bono">Cui bono</a></i></li> <li><a href="/wiki/Follow_the_money" title="Follow the money">Follow the money</a></li> <li><a href="/wiki/Legal_ethics" title="Legal ethics">Legal ethics</a></li> <li><a href="/wiki/Lobbying" title="Lobbying">Lobbying</a></li> <li><a href="/wiki/Medical_ethics" title="Medical ethics">Medical ethics</a> <ul><li><a href="/wiki/List_of_medical_ethics_cases" title="List of medical ethics cases">cases</a></li></ul></li> <li><a href="/wiki/Medical_ghostwriter" title="Medical ghostwriter">Medical ghostwriter</a></li> <li><a href="/wiki/Moral_hazard" title="Moral hazard">Moral hazard</a></li> <li><a href="/wiki/Pharmaceutical_marketing" title="Pharmaceutical marketing">Pharmaceutical marketing</a></li> <li><a href="/wiki/Pharmaceutical_sales_representative" title="Pharmaceutical sales representative">Pharmaceutical sales representative</a></li> <li><a href="/wiki/Pharmacovigilance" title="Pharmacovigilance">Pharmacovigilance</a></li> <li><a href="/wiki/Political_ethics" title="Political ethics">Political ethics</a></li> <li><a href="/wiki/Political_bias" title="Political bias">Political bias</a></li> <li><a href="/wiki/Revolving_door_(politics)" title="Revolving door (politics)">Revolving door</a></li> <li><a href="/wiki/Continuing_medical_education#sponsorship" title="Continuing medical education">Sponsorship of continuing medical education</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Law</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><i><a href="/wiki/Nemo_iudex_in_causa_sua" title="Nemo iudex in causa sua">Nemo iudex in causa sua</a></i></li> <li><i><a href="/wiki/R_v_Bow_Street_Metropolitan_Stipendiary_Magistrate,_ex_parte_Pinochet" title="R v Bow Street Metropolitan Stipendiary Magistrate, ex parte Pinochet">R v Bow Street Metropolitan Stipendiary Magistrate, ex parte Pinochet (No 2)</a></i></li> <li><i><a href="/wiki/R_v_Neil" title="R v Neil">R v Neil</a></i></li> <li><i><a href="/wiki/R_v_Sussex_Justices,_ex_parte_McCarthy" title="R v Sussex Justices, ex parte McCarthy">R v Sussex Justices, ex parte McCarthy</a></i></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Media</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><i><a href="/wiki/Bad_Pharma" title="Bad Pharma">Bad Pharma</a></i></li> <li><i><a href="/wiki/Big_Pharma_(book)" title="Big Pharma (book)">Big Pharma</a></i></li> <li><i><a href="/wiki/Inside_Job_(2010_film)" title="Inside Job (2010 film)">Inside Job</a></i></li> <li><i><a href="/wiki/Side_Effects_(Bass_book)" title="Side Effects (Bass book)">Side Effects</a></i></li> <li><i><a href="/wiki/Who_Killed_the_Electric_Car%3F" title="Who Killed the Electric Car?">Who Killed the Electric Car?</a></i></li> <li><i><a href="/wiki/Taken_for_a_Ride" title="Taken for a Ride">Taken for a Ride</a></i></li></ul> </div></td></tr><tr><td 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href="/wiki/Environmental_accounting" title="Environmental accounting">environmental</a> <a href="/wiki/Accountability" title="Accountability">accountability</a></div></th></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Business_ethics" title="Business ethics">Ethics</a> and<br />principles</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Aarhus_Convention" title="Aarhus Convention">Aarhus Convention</a></li> <li><a href="/wiki/Climate_justice" title="Climate justice">Climate justice</a></li> <li><a href="/wiki/Corporate_crime" title="Corporate crime">Corporate accountability</a> / <a href="/wiki/Corporate_behaviour" title="Corporate behaviour">behaviour</a> / <a href="/wiki/Corporate_environmental_responsibility" title="Corporate environmental responsibility">environmental responsibility</a> / <a href="/wiki/Corporate_responsibility" title="Corporate responsibility">responsibility</a> / <a href="/wiki/Corporate_social_responsibility" title="Corporate social responsibility">social responsibility</a></li> <li><a href="/wiki/Dirty_hands" class="mw-redirect" title="Dirty hands">Dirty hands</a></li> <li><a href="/wiki/Environmental_racism" title="Environmental racism">Environmental racism</a> / <a href="/wiki/Environmental_racism_in_Russia" title="Environmental racism in Russia">in Russia</a> / <a href="/wiki/Environmental_racism_in_the_United_States" title="Environmental racism in the United States">in the United States</a> / <a href="/wiki/Environmental_racism_in_Western_Europe" title="Environmental racism in Western Europe">in Western Europe</a> / <a href="/wiki/Environmental_inequality_in_the_United_Kingdom" title="Environmental inequality in the United Kingdom"> inequality in the UK</a> / <a href="/wiki/Environmental_injustice_in_Europe" title="Environmental injustice in Europe">injustice in Europe</a></li> <li><a href="/wiki/Ethical_banking" title="Ethical banking">Ethical banking</a></li> <li><a href="/wiki/Ethical_code" title="Ethical code">Ethical code</a></li> <li><a href="/wiki/Extended_producer_responsibility" title="Extended producer responsibility">Extended producer responsibility</a></li> <li><a href="/wiki/Externality" title="Externality">Externality</a></li> <li><a href="/wiki/Harm" title="Harm">Harm</a></li> <li><a href="/wiki/Little_Eichmanns" title="Little Eichmanns">Little Eichmanns</a></li> <li><a href="/wiki/Loss_and_damage" class="mw-redirect" title="Loss and damage">Loss and damage</a></li> <li><a href="/wiki/Organizational_ethics" title="Organizational ethics">Organizational ethics</a></li> <li><a href="/wiki/Organizational_justice" title="Organizational justice">Organizational justice</a></li> <li><a href="/wiki/Pollution" title="Pollution">Pollution</a></li> <li><a href="/wiki/Principles_for_Responsible_Investment" title="Principles for Responsible Investment">Principles for Responsible Investment</a></li> <li><a href="/wiki/Racism" title="Racism">Racism</a></li> <li><a href="/wiki/Impact_Assessment" class="mw-redirect" title="Impact Assessment"> Social impact assessment</a></li> <li><a href="/wiki/Social_justice" title="Social justice">Social justice</a></li> <li><a href="/wiki/Social_responsibility" title="Social responsibility">Social responsibility</a></li> <li><a href="/wiki/Stakeholder_theory" title="Stakeholder theory">Stakeholder theory</a></li> <li><a href="/wiki/Sullivan_principles" title="Sullivan principles">Sullivan principles</a></li> <li><a href="/wiki/Transparency_(behavior)" title="Transparency (behavior)">Transparency (behavioral</a></li> <li><a href="/wiki/Transparency_(behavior)" title="Transparency (behavior)">social)</a></li> <li><a href="/wiki/United_Nations_Global_Compact" title="United Nations Global Compact">UN Global Compact</a></li></ul> </div></td><td class="noviewer navbox-image" rowspan="6" style="width:1px;padding:0 0 0 2px"><div><span typeof="mw:File"><a href="/wiki/File:OilCleanupAfterValdezSpill.jpg" class="mw-file-description" title="Clean up after the Exxon Valdez oil spill"><img alt="Clean up after the Exxon Valdez oil spill" src="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/OilCleanupAfterValdezSpill.jpg/125px-OilCleanupAfterValdezSpill.jpg" decoding="async" width="125" height="81" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/5/52/OilCleanupAfterValdezSpill.jpg/188px-OilCleanupAfterValdezSpill.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/5/52/OilCleanupAfterValdezSpill.jpg/250px-OilCleanupAfterValdezSpill.jpg 2x" data-file-width="400" data-file-height="259" /></a></span></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Social_accounting" title="Social accounting">Social<br />accounting</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Corporate_crime" title="Corporate crime">Corporate crime</a></li> <li><a href="/wiki/Double_bottom_line" title="Double bottom line">Double bottom line</a></li> <li><a href="/wiki/Ethical_positioning_index" title="Ethical positioning index">Ethical positioning index</a></li> <li><a href="/wiki/Higg_Index" title="Higg Index">Higg Index</a></li> <li><a href="/wiki/Impact_assessment" title="Impact assessment">Impact assessment</a> (<a href="/wiki/Environmental_impact_assessment" title="Environmental impact assessment">environmental</a></li> <li><a href="/wiki/Equality_impact_assessment" title="Equality impact assessment">equality</a></li> <li><a href="/wiki/Social_impact_assessment" title="Social impact assessment">social</a>)</li> <li><a href="/wiki/ISO_26000" title="ISO 26000">ISO 26000</a></li> <li><a href="/wiki/ISO_45001" title="ISO 45001">ISO 45001</a></li> <li><a href="/wiki/Genuine_progress_indicator" title="Genuine progress indicator">Genuine progress indicator</a></li> <li><a href="/wiki/Performance_indicator" title="Performance indicator">Performance indicator</a></li> <li><a href="/wiki/SA8000" title="SA8000">SA8000</a></li> <li><a href="/wiki/Social_return_on_investment" title="Social return on investment">Social return on investment</a></li> <li><a href="/wiki/Whole-life_cost" title="Whole-life cost">Whole-life cost</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Environmental_accounting" title="Environmental accounting">Environmental<br />accounting</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Carbon_accounting" title="Carbon accounting">Carbon accounting</a></li> <li><a href="/wiki/Eco-Management_and_Audit_Scheme" title="Eco-Management and Audit Scheme">Eco-Management and Audit Scheme</a></li> <li><a href="/wiki/Emission_inventory" title="Emission inventory">Emission inventory</a></li> <li><a href="/wiki/Environmental_full-cost_accounting" title="Environmental full-cost accounting">Environmental full-cost accounting</a> / <a href="/wiki/Environmental_conflict" title="Environmental conflict">Environmental conflict</a> / <a href="/wiki/Environmental_impact_assessment" title="Environmental impact assessment">impact assessment</a> / <a href="/wiki/Environmental_management_system" title="Environmental management system">management system</a> / <a href="/wiki/Environmental_profit_and_loss_account" title="Environmental profit and loss account">profit-and-loss account</a></li> <li><a href="/wiki/ISO_14000" class="mw-redirect" title="ISO 14000">ISO 14000</a></li> <li><a href="/wiki/ISO_14031" title="ISO 14031">ISO 14031</a></li> <li><a href="/wiki/Life-cycle_assessment" title="Life-cycle assessment">Life-cycle assessment</a></li> <li><a href="/wiki/Pollutant_release_and_transfer_register" title="Pollutant release and transfer register">Pollutant release and transfer register</a></li> <li><a href="/wiki/Sustainability_accounting" title="Sustainability accounting">Sustainability accounting</a> / <a href="/wiki/Sustainability_measurement" title="Sustainability measurement">measurement</a> / <a href="/wiki/Sustainability_metrics_and_indices" title="Sustainability metrics and indices">metrics and indices</a> / <a href="/wiki/Sustainability_standards_and_certification" title="Sustainability standards and certification">standards and certification</a> / <a href="/wiki/Supply_chain_sustainability" title="Supply chain sustainability">supply chain</a></li> <li><a href="/wiki/Toxics_Release_Inventory" title="Toxics Release Inventory">Toxics Release Inventory</a></li> <li><a href="/wiki/Triple_bottom_line" title="Triple bottom line">Triple bottom line</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Reporting</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Global_Reporting_Initiative" title="Global Reporting Initiative">Global Reporting Initiative</a></li> <li><a href="/wiki/GxP" title="GxP">GxP guidelines</a></li> <li><a href="/wiki/Sustainability_reporting" title="Sustainability reporting">Sustainability reporting</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Audit" title="Audit">Auditing</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Community-based_monitoring" title="Community-based monitoring">Community-based monitoring</a></li> <li><a href="/wiki/Environmental_audit" title="Environmental audit">Environmental</a> (<a href="/wiki/Environmental_certification" title="Environmental certification">certification</a>)</li> <li><a href="/wiki/Fair_trade" title="Fair trade">Fair trade</a> (<a href="/wiki/Fair_trade_certification" title="Fair trade certification">certification</a>)</li> <li><a href="/wiki/ISO_19011" title="ISO 19011">ISO 19011</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Related</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Accord_on_Fire_and_Building_Safety_in_Bangladesh" title="Accord on Fire and Building Safety in Bangladesh">Bangladesh Accord</a></li> <li><a href="/wiki/Benefit_corporation" title="Benefit corporation">Benefit corporation</a></li> <li><a href="/wiki/Child_labour" title="Child labour">Child labour</a></li> <li><a href="/wiki/Community_interest_company" title="Community interest company">Community interest company</a></li> <li><a class="mw-selflink selflink">Conflict of interest</a></li> <li><a href="/wiki/Disaster" title="Disaster">Disasters</a></li> <li><a href="/wiki/Disinvestment" title="Disinvestment">Disinvestment</a></li> <li><a href="/wiki/Ecolabel" title="Ecolabel">Eco-labeling</a></li> <li><a href="/wiki/Environmental_degradation" title="Environmental degradation">Environmental degradation</a></li> <li><a href="/wiki/Environmental_pricing_reform" title="Environmental pricing reform">Environmental pricing reform</a></li> <li><a href="/wiki/Environmental,_social,_and_corporate_governance" class="mw-redirect" title="Environmental, social, and corporate governance">Environmental, social, and corporate governance</a></li> <li><a href="/wiki/Ethical_consumerism" title="Ethical consumerism">Ethical consumerism</a></li> <li><a href="/wiki/Euthenics" title="Euthenics">Euthenics</a></li> <li><a href="/wiki/Global_justice_movement" title="Global justice movement">Global justice movement</a></li> <li><a href="/wiki/Health_impact_assessment" title="Health impact assessment">Health impact assessment</a></li> <li><a href="/wiki/Market_governance_mechanism" title="Market governance mechanism">Market governance mechanism</a></li> <li><a href="/wiki/Product_certification" title="Product certification">Product certification</a></li> <li><a href="/wiki/Public_participation" title="Public participation">Public participation</a></li> <li><a href="/wiki/SDG_Publishers_Compact" title="SDG Publishers Compact">SDG Publishers Compact</a></li> <li><a href="/wiki/Social_enterprise" title="Social enterprise">Social enterprise</a></li> <li><a href="/wiki/Socially_responsible_business" title="Socially responsible business">Socially responsible business</a></li> <li><a href="/wiki/Socially_responsible_investing" title="Socially responsible investing">Socially responsible investing</a></li> <li><a href="/wiki/Socially_responsible_marketing" title="Socially responsible marketing">Socially responsible marketing</a></li> <li><a href="/wiki/Stakeholder_(corporate)" title="Stakeholder (corporate)">Stakeholder</a> (<a href="/wiki/Stakeholder_engagement" title="Stakeholder engagement">engagement</a>)</li> <li><a href="/wiki/Supply_chain_management" title="Supply chain management">Supply chain management</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="3"><div> <ul><li><span class="noviewer" typeof="mw:File"><a href="/wiki/File:Symbol_portal_class.svg" class="mw-file-description" title="Portal"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/16px-Symbol_portal_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/23px-Symbol_portal_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/e/e2/Symbol_portal_class.svg/31px-Symbol_portal_class.svg.png 2x" data-file-width="180" data-file-height="185" /></a></span> <a href="/wiki/Portal:Environment" title="Portal:Environment">Environment portal</a></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" 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