Conflict of Interest
Boston University School of Medicine
Service Related COI Grade:
Policy absent or unlikely to have substantial impact
Good progress toward model policy
"Trustees, officers, employees, and other representatives of Boston University serve the public and are required to fulfill their responsibilities with care and loyalty. All decisions and actions of board and the administration are to be made for the sole purpose of advancing the best interests of institution and the public good. The integrity of Boston University must be protected at all times, the fiduciary relationship of trustees, officers, employees, and other representatives to Boston must be respected in both actuality and appearance.
A conflict of interest exists when a University representative’s direct or indirect personal interests are inconsistent with or interfere in any way with the best interests of the University.
Through this policy, the Board of Trustees intends to implement the highest possible ethical and to establish that the University will not tolerate conflicts of interest. The Board, through its Audit Committee, will administer this policy strictly, with complete transparency, and in accordance the following principles:
In general, it is the policy of the University that it will not engage in business or financial relationships with trustees or officers (for purposes of this policy, the president, vice presidents, provosts, and deans).
No business or financial relationship between the University and any trustee or officer, or a member of his or her immediate family, or any entity with which a trustee or officer or a member of his or her immediate family is affiliated, will be permitted unless it has been thoroughly reviewed and considered by the Audit Committee and has been found to be of clear benefit to the University.
No trustee or officer, or a member of his or her immediate family, may knowingly invest directly in any business, investment fund, limited partnership, separate account, commingled account, mutual fund, or other vehicle (“Investment Vehicle”) in which the University has a material financial interest. Except with the prior approval of the Audit Committee, the University will not knowingly invest directly in an Investment Vehicle in which a trustee or officer, or a member of his or her immediate family, has a material financial interest. For purposes of this provision, “material financial interest” means a role as general or managing partner, management-level employee, owner or sponsor of the investment firm, or an ownership interest of greater than 5% in the Investment Vehicle."
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