Disclosing and reporting conflicts of interest.

CFR · 2024-01-01 · US · Title 12

(a) (1) If you have a conflict of interest in a matter, transaction, or activity subject to official action by the institution or before the board of directors then you must disclose it and refrain from participating in official action or board discussion of the matter, transaction, or activity. You must also avoid voting on or influencing any decision directed at the matter, transaction, or activity. (2) You must report, either to the SOCO or by using the institution's anonymous reporting procedures, any known or suspected activity by a person affiliated with the institution that you suspect is illegal, unethical, or a violation of the institution's standards of conduct and Code of Ethics. (b) (1) Any interest you have in any business matter, including any loan or loan application, to be considered by the System institution, or supervised or supervising institution in the current year; (2) All material financial interests, including those arising in the ordinary course of business, you have with any director, employee, agent, or borrower of your System institution, or a supervised or supervising institution; (3) The name(s) of your reportable business entities that you know or have reason to know in the current year transacted business with: (i) Your System institution; (ii) Any supervised or supervising institution; or (iii) A borrower that transacts business with your System institution, or any supervised or supervising institution. (4) The name(s) of your family members y

official document · source cfr-2024 · id 12:§ 612.2145