Recognising and managing Conflicts of Interest

Summary

Simon categorises the 4 commonly seen types of Conflict of Interest:

• Conflict of Duty
• Own/Personal Interest
• Other Involvement
• Confidentiality of Information

And cautions that while being honest about conflicts of interest is always advisable, simply alerting a client is not protection against potential issues later on.

Points to consider

Do you foresee any exposure to conflicts of interest in your firm? Or personally?

What similarities do you see between the criteria for measuring ‘adequate procedures’ (as explained by Nimisha) and avoiding conflicts of interest?