What is the Annual Conflicts of Interest Process?
Each year, the Compliance Committee asks select employees to file a disclosure form annually through a web-based COI Application indicating whether they have conflict. Employees who are required to file are prompted to do so via an email from Compliance Services at the start of the spring semester. These disclosures are collected pursuant to the University’s Conflict of Interest Policy. The process is managed by the Compliance Services Office on behalf of the BU’s Compliance Committee.
How was I selected as someone who is required to file an annual disclosure form?
“Selected Employees” are chosen by members of the Compliance Committee based on their title, job duties, and employment grade in SAP (the employment information system). Decisions about employees included in the population are based on things like supervisory responsibilities and purchasing authority, among other criteria. You can reach out to the Compliance Services Office for details on how and why you were selected as a filer.
What conflicts must be reported on my Annual Disclosure Form?
In accordance with the BU Conflict of Interest Policy, only (1) family conflicts, (2) business or financial relationships, and (3) Service in organizations where an employee serves as a director, officer, employee or other agent at the University’s request or as the University’s designated representative must be reported on the annual disclosure form. See the definitions section below for specific information about how these three conflicts are defined.
I have a family member who is a student and a student-employee at the University. Do they count as a “family” conflict that I need to report?
Any employee with a member of their immediate family employed by the University should include this family member on their disclosure, even if the family member is a student-employee.
My family member attends Boston University as a student. Does that count as a business or financial relationship that must be reported?
No. A business or financial relationship does not include attending Boston University as a student.
What happens when I disclose a conflict?
The Compliance Services Office reviews and logs all disclosures to determine if the reported conflict needs further management. If it does need further management, the Compliance Service Office will work with Human Resources and/or the Conflict Monitor (typically a supervisor) to ensure that the relationship is managed appropriately. For example, if a child works in the same department as a parent, there will be follow-up to ensure that the child/relative is not supervised by the parent.
I am a researcher and have already filed a Conflict of Interest disclosure as part of my grant application. If I received an email asking me to file, do I really need to do it?
Yes. Any research conflict reporting done through the Research Support/Research Compliance Office is separate and apart from the disclosure requirements pursuant to the University’s Conflict of Interest Policy. The University has developed a chart to assist you in understanding how the research conflict disclosures are different from the Annual Conflict of interest process managed by the Compliance Services Office.
I am a BU and BMC employee and have already filed a Conflict of Interest disclosure with BMC. Do I really need to participate in BU’s annual disclosure process?
Yes. BMC’s Conflict of Interest Disclosure Process is separate from the University’s from BU’s disclosure requirements pursuant to the University’s Conflict of Interest Policy.
I serve as a member of an outside organization in a personal capacity, unrelated to BU. Is this the type of organization I have to report on my annual disclosure?
No. For the purposes of the Conflict of Interest Policy and the annual disclosure process, you are not required to identify organizations in which you serve in your personal capacity. Organizations that must be reported are ones in which you serve as a director, officer, employee, or other agent at the University’s request or as the University’s designated representative. Our COI Policy only requires reporting for relationships that are at the behest of BU.
However, note that if you are a faculty member subject to the Faculty Handbook, you must submit an External & International Activity Report (EIAR) to your Dean in accordance with the Conflict of Commitment Policy, and that report might require you report certain organizations as external activity.
An organization that I am involved with in a personal capacity does business with BU. Does this need to be reported on the form?
The relationship would need to be reported as a business or financial relationship on your form if you have “A significant interest” which includes “service as a trustee, director, partner, or management-level employee; the actual or beneficial ownership of more than 5% of the entity; or a compensation arrangement that is dependent upon a business or financial relationship with the University.”
If the relationship does not rise to the level of a significant relationship, you could still choose to report the relationship to ensure that the University is on notice. You should also be aware that if you are receiving any compensation from the organization or they are reimbursing you for travel, this relationship would fall under BU’s Solicitation and Acceptance of Personal Gifts and Relationships with Vendors Policy, and you would need prior approval before accepting such compensation from them pursuant to that Policy.
I filed my form already but want to make an edit to what I disclosed. What should I do?
To update your form, you’ll take the same steps you did to file the first time. You log in through the web application and then re-enter your information, whether its adding conflicts or deleting them. The system logs the last entry you made, so by re-doing your form, it will automatically update your COI form to this latest version. This only works for a period of time after launch, so if the update needs to happen outside of the Spring disclosure period., you’ll have to file a paper COI form manually as described in the next question.
What should I do if I have a conflict that comes up after I already filed my annual form?
All BU employees (including those not included in the Annual Disclosure Process) are subject to the Conflict of Interest Policy and must disclose any time when they have a financial, family, or organizational conflict. If you try to resubmit your form (as described in the question and answer directly above) and the system does not let you file again, you can use a paper form. The paper COI form should be filled out and sent to the Compliance Services Office if a conflict arises through the course of the year that must be disclosed.
Definitions from the BU Conflict of Interest Policy
- Conflict of Interest
A Conflict of Interest exists when a Covered Party’s direct or indirect personal interests are inconsistent with or interfere in any way with the best interests of the University. Such Conflicts may arise out of (but are not limited to): -
- Business or Financial Relationships between the University and a Covered Party or a Covered Party’s Immediate Family; or between the University and an entity with which a Covered Party or Covered Party’s Immediate Family is affiliated;
- Investment Relationships involving trustees or Officers;
- Employment Relationships between the University and Immediate Family Members of a Covered Party; or
- Service to another organization at the request of the University where that organization provides compensation to a Covered Party.
- Business or Financial Relationship
A Business or Financial Relationship includes the sale or acquisition of goods, property, or services; or the commitment of resources to a common venture. It does not include attending Boston University as a student. - Investment Relationship
An Investment Relationship means knowingly directly investing in any Investment Vehicle in which the University, or a trustee, officer, or a member of his or her Immediate Family has a Material Financial Interest. - Employment Relationship
Employment by the University of an Immediate Family Member of a Covered Party. - Immediate Family
Immediate Family means (1) a spouse; (2) a child, grandchild, parent, grandparent, sibling, uncle, aunt, nephew, or niece, or the spouse of any such person; (3) a person having a step-relationship described in (2) above; (4) a parent-in-law or a brother- or sister-in-law; or (5) any other person who resides in the same household as the trustee, officer, or employee. - Investment Vehicle
An Investment Vehicle means a business, investment fund, limited partnership, separate account, commingled account, mutual fund, or other vehicle meant for investment purposes. - Material Financial Interest
A 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 an Investment Vehicle. - Selected Employee
Selected Employees are a those Faculty and Staff members who are required to complete Conflict of Interest Disclosure Forms during the University’s annual disclosure process. A faculty or staff member’s designation as a Selected Employee is determined by the Compliance Subcommittee based on a faculty or staff member’s job title, classification, duties, and supervisory and procurement authority. The designation is reviewed on an annual basis. - Significant Interest
A Significant Interest means an interest in another entity that includes service as a trustee, director, partner, or management-level employee; the actual or beneficial ownership of more than 5% of the entity; or a compensation arrangement with another entity that is dependent upon its business or financial relationship with the University.