Conflicts of Interest Policy

What is a conflict of interest policy and when should you use it?

This Conflict of Interest Policy is designed for a SME private limited company.

This document is compliant with the GDPR (General Data Protection Regulation).

Conflicts of interest affect companies of all types and sizes.

Such conflicts can give rise to board decisions which are against the company’s best interests, or which may have an adverse impact on its reputation.

Decisions which are affected by a conflict of interests can be legally invalid and/or challengeable.

Each director has an obligation to act in the best interests of the company, in accordance with the company’s constitution and in accordance with the Companies Act 2014.

A director also has a legal responsibility to declare conflicts of interest.

In this respect and as a matter of good corporate governance practice, it is highly recommended that company boards adopt a written conflicts of interest policy as a tool to assist in managing the conflicts process internally.

This template form of policy can be adapted to meet the particular needs and circumstances of your company as necessary.