Are you Conflicted?
Those entrusted with the stewardship of organisations, whether they be corporations, charities, law firms, PLCs, NHS Trusts or Foundation Trusts, Clinical Commissioning Groups, are expected to act in the interest of that organisation, and generally in the interest of its stakeholders or shareholders. They are not expected to exert the influence of their privileged positions for personal gain.
Which Regulatory Regime Applies to Me?
Depending on your role and the legal entity you are part of there will be differing regulatory and generally accepted governance requirements that you will be under a duty to observe and comply with.
- If you are an NHS Clinical Commissioning Group, and you are a member of the Governing Body, you have a duty to manage conflicts of interest.
- If you a director of a NHS Foundation Trust, you have a duty to avoid conflicts of interest.
- Company directors have a duty to avoid conflicts of interest, including a situation in which you have or can have, a direct or indirect interest that conflicts, or possibly may conflict, with the interests of the company.
- For trustees of a charity, you have a duty to act only in the best interests of their charity. You must not put yourself in any position where your duties as trustee may conflict with any personal interest you may have. You must prevent the conflict of interest from affecting your decisions.
How do I meet my Duty with respect to Conflicts of Interest?
The Governance Advisory Practice works with clients across the various formats of corporate entity to establish proportionate guidance, frameworks and decision-trees to enable those with responsibility and accountability for decision-making to discharge their duties towards Conflicts of Interest.
If you’re interested in a no-commitments, confidential discussion about your own unique circumstances, do please get in touch using the button below.