Clean Up Conflicts of Interest – NOW

Government and Industry Groups Take Action

Border-crossing schemes and multi-million dollar settlements guarantee that fraud and bribery grab the headlines, historically overshadowing conflicts of interest (COI). That’s changing – and it’s changing fast. COIs have emerged as a serious organizational risk for government agencies, academic institutions and companies in virtually every business sector.

A wave of new regulations and successful prosecutions has put public and private organizations on notice that conflicts of interest carry significant costs. Industry groups have taken up the call, issuing their own ethics standards and advocating for strict adherence among their members. State governments have enacted new laws designed to limit the potential for conflicts of interest, particularly between physicians and the medical products industry. Universities and research organizations are setting tight restrictions on the relationships between their employees and potential suppliers. Agencies of the federal government are racing to set new COI standards for their own organizations and for the contractors on which they rely.

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