Conflicts of Interest: SEC Staff Training

Partner Jennifer Klass and associate Christine Lombardo presented this for an SEC staff training.

What is a Conflict?

• Any activity or relationship that results in competing or conflicting interests
  • Competing interests that may incline an adviser – consciously or unconsciously – to render advice that is not disinterested
  • In other words, any situation that threatens the objectivity of the advice provided to the client
• Conflicts may involve self-dealing as well as divided loyalty
  • Conflicts between the adviser’s interests and those of its clients
  • Conflicts among the interests of different clients
• Adviser or its affiliates acting in multiple roles with respect to a client or transaction (adviser, broker, lender, principal counterparty, derivative counterparty, index provider)

View the presentation >>