Conflicts of interest Flashcards
1
Q
What are the three types of conflict of interest?
A
Party Conflict
Own Interest Conflict
Confidential Information Conflict
2
Q
What is a party conflict
A
where a members duty to act within the interest of their client conflicts with the duty or interest of another client in respect of the same, or a related professional assignments
3
Q
What is an Own Interest Conflict
A
Where your duty to act for the benefit of your client conflicts with the interests of your own firm
4
Q
What is a confidential information conflict
A
Where your duty to provide information to one party in respect of an instruction conflicts with your duty to protect the personal information of another client for another instruction.
