In support of principles of good governance, the Society for Clinical Research Sites, Inc. (the “organization”) has adopted this Conflict of Interest Policy in order to ensure that the individuals in leadership positions exercise their responsibilities with loyalty and care to the organization, and do not use their positions for personal advantage. This policy addresses the disclosure and processing of a Conflict of Interest as follows:
- Defines conflicts of interest;
- Identifies classes of individuals within the organization covered by this policy;
- Facilitates disclosure of information that may help identify conflicts of interest; and,
- Specifies procedures to be followed in managing conflicts of interest.
Definition of conflicts. A conflict of interest arises when a person in a position of authority over the organization may benefit financially or otherwise from a decision he or she could make in that capacity, including indirect benefits such as to family members or businesses with which the person is associated. This policy is focused upon material financial interest of, or benefit to, such persons.
Individuals covered. Persons covered by this policy are members of the organization’s Leadership Council, officers, directors, chief employed executive and chief employed finance executive.
Disclosure. Persons covered by this policy will disclose to the Chair of the Leadership Council any actual or potential conflict of interest that arises at any time and will annually disclose, on a form provided by the organization, their leadership positions in competitive organizations.
Managing conflicts. For each interest disclosed to the Council Chair, the Council will determine whether a conflict of interest exists and, if so, will determine whether to:
- Take no action;
- Ask the person to recuse himself or herself from participation in related discussions or decisions within the organization; or
- Ask the person to resign from his or her position in the organization or, if the person refuses to resign, become subject to possible removal in accordance with the organization’s removal procedures. The organization’s chief employed executive and chief employed finance executive will monitor proposed or ongoing transactions for conflicts of interest and disclose them to the Council Chair in order to deal with potential or actual conflicts, whether discovered before or after the transaction has occurred.