What should I do if committee members have not disclosed conflict of interest?

If committee members have not yet disclosed their conflict of interest, it is important to take proactive steps to address the situation. Here are some recommended actions:

• Review a Sample Disclosure: FIAB provides a template Conflict of Interest Disclosure, which you should review and customize to the specific needs of your committee. As this document refers to legal responsibilities, you should consider having an attorney review it as well.
• Distribute the Conflict of Interest Disclosure for Signature: Distributing the form ensures that each committee member has the opportunity to review and formally disclose any / all conflicts of interest they may have. This can be done through email, internal communication platforms, or physical copies distributed during a meeting. Make sure to provide clear instructions on how and when the completed form should be returned. Specify any deadlines or due dates to ensure timely compliance.
• Address Questions and Concerns: Be available to address any questions, concerns, or clarifications committee members may have about the disclosure form or their fiduciary duties. Provide contact information for committee members to reach out to you or another designated point of contact.
• Upload Complete Form to FIAB: Collect completed disclosure forms and upload them to Fiduciary In A Box to document your fiduciary process. Completed forms can be assigned to each committee member to track your progress and any outstanding forms.

For support in managing your fiduciary responsibilities, visit Fiduciary In A Box.

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