Interested Person: Any person who has direct or indirect financial interest or other interest that could be construed as a conflict.
Financial Interest: A person has a financial interest if the person has obtained or potentially obtained, directly or indirectly, through business, investment, or family, remuneration, gifts, or favors that are not insubstantial. A financial interest is not necessarily a conflict of interest.
Other interests or relationships that may constitute a conflict of interest include but are not limited to:
(a) Personal or family relationships;
(b) Participation on the Boards or Advisory Councils of organizations, such as potential competitors, that could result in conflicting duties to each of the organizations.
Duty to Disclose: The applicant must disclose the existence of the financial or other potential or actual conflict of interest and be given the opportunity to disclose all material facts.
Determining Whether a COI Exists: After disclosure of the potential conflict of interest and all material facts, the GBI Standards Committee shall decide if a conflict of interest exists.
Annual COI Reporting: It is acceptable to disclose a standing potential or actual conflict of interest during annual requests. Participants should review all agendas prior to meetings and remind the meeting Chair of disclosed potential or actual conflicts prior to discussion starting on the topic where a conflict exists.