Conflicts of interest: getting it wrong

In the nearly ten years that I have published this blog I have noted various studies and other sources of insight into the issue of whether individuals and organizations truly understand the negative impact flowing from disclosed COIs. See posts collected here.  (The latest contribution to this area is Bias in expert product reviews by Ben Vollaard of Tilburg University and Jan C. Van Ours of Erasmus University Rotterdamhttps:/ “Our findings suggest that reviewers’ ad hoc relationships with producers, often dismissed as `coming with the job’, can be very harmful.”)  https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3847682  

C&E professionals need to be aware of this body of knowledge, at least in a general way, as it can help enhance compliance efforts, including those involved in risk assessment and training,  This is particularly so at a high level in a company.

Finally, consider using the recent story in compliance communications within your company: “131 federal judges failed to recuse themselves from cases in which they had financial interest:” If dealing with COIs is difficult for judges, that underscores the need for others to make an extra effort to make sure they are doing so in compliance with applicable law and ethical standards.

 

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