203-14 Financial Restrictons Prohibited Interest

Question 1

No department employee may have a position in a firm that the employee knows, or should know, is in engaged in __________________________

If department employee is unsure whether that business has dealings with the city they can make written request to police commissioner through channels for a determination on whether that firm does business with the department

Answer 1

Business dealings with the DEPARTMENT

No department employee may have a position in a firm that the employee knows, or should know is in business dealings with the CITY unless such position is in a firm whose shares are publicly traded

A POSITION includes but is not limited to an officer, director, manager, employee, trustee, attorney, agent, broker, or consultant to the firm. The definition of “firm” includes an individual seeking business on his/her own behalf and as a sole proprietor

Question 2

A department employee may not have ownership interest in a firm that is engaged in business dealings with the department or have an ownership in a firm whose shares are not publicly traded, that is engaged in business dealings with the city.

If a department employee has an ownership interest prohibited above, the employee must within ____ days of learning that such ownership is prohibited:

A. ________________
B. ________________

Answer 2

-10 days

A. Terminate such ownership in the firm, or

B. Disclose the prohibited ownership interest to the conflict of interest board

For above purposes an ownership interest means an interest held by a department employee, the employees spouse orin-emancipated child, that is greater than 5% of the firm or an investment equivalent to $32,000.

An employee may have an interest otherwise prohibited above if written approval is obtained from the police commissioner and the conflicts of interest board approves.