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Some examples of a conflict of interest could be: Representing a family member in court. Starting a business that competes with your full-time employer. Advising a client to invest in a company owned by your spouse. Hiring an unqualified relative or friend.
If you're made aware of a potential conflict and have deemed it permissible, your next step may be to formalize your decision with a conflict of interest waiver. This waiver is a formal legal document serving as proof that an employee has made all necessary parties aware of the potential conflict.
?[A] fiduciary cannot act at the same time both for and against the same client, and his firm is in no better position. A man cannot without the consent of both clients act for one client while his partner is acting for another in the opposite interest.
Examples of conflicts of interest include: an employee starts a part-time business offering similar services. an employee accepts a gift from a supplier in exchange for business over other suppliers. a manager fails to disclose that they are related to a candidate being considered for a job.
How To Write a Good (And Ethical) Conflict Of Interest Waiver Identify the conflict of interest. ... Describe the workaround. ... Describe the upside of the client(s) waiving the conflict of interest. ... Describe the downside to the client(s) waiving the conflict of interest. ... Get it in writing. ... Take it home!