Texas Society of Anesthesiologists Conflict of Interest Policy

Conflict of Interest Disclosure Form

DEFINITION OF CONFLICT OF INTEREST

A conflict of interest arises when what is in a person’s best interest is not in the best interest of another person or organization to which that person owes loyalty. A conflict of interest arises in situations where a person has a duty to more than one person or organization but cannot do justice to the actual or potentially adverse interest of both parties. A conflict of interest can also exist when a person must answer to two different individuals or organizations whose needs and goals are at odds with each other. In this case, serving one individual or group will injure the other.

A potential conflict of interest, sometimes called “duality”, arises from a situation where a person has multiple responsibilities to persons or organizations which may result in a conflict of interest, real or perceived.

DEFINED TERMS

  1. Covered Persons – Covered Persons include any person who is in a position to exercise substantial influence over the affairs of the Society and includes the Society’s officers, directors, committee chairs, and members, and key persons, including employees, consultants, vendors and contractors.
  2. Related Parties – any of the following:
    1. The living relatives of each Covered Person, including spouses and domestic partners, and spouses and domestic partners of relatives;
    2. Any entity or trust of which any individual described in paragraph (a) above serves as a director, trustee, officer, or employee; and
    3. Any entity or trust in which any one or more individuals described in paragraphs (a) or (b) above have a 5% or greater ownership or beneficial interest.

CONFLICT OF INTEREST PROCEDURES

  1. Duty to Disclose. Covered Persons have a duty to disclose in good faith the material facts of any conflict of interest or potential conflict of interest related to the affairs of the Society, including any proposed decision, goal, strategy or transaction of the Society and including situations in which a Related Party of such Covered Person has any actual or potential conflict of interest. The disclosure should be made prior to consideration of such proposed decision, goal, strategy or transaction by the House of Delegates of the Society (the “House”), the Board of Directors of the Society (the “Board”), or by any committee of the Board, or promptly after such Covered Person has knowledge of the relevant facts if he or she has no actual knowledge prior to the relevant House, Board, or committee action.
  2. Recusal. Any Covered Person having a conflict of interest or potential conflict of interest shall refrain from participating in or attempting to influence any decisions or votes regarding the matter under consideration and shall retire from the meeting during any deliberations and votes on such matter. At the request of the House, Board, or Executive Committee, the person may present background information or answer questions regarding the matter under consideration prior to the deliberations or vote on such matter. Recusal of a Covered Person shall be recorded as part of the proceedings.
  3. Internal Reporting. Any Society member who believes that a Covered Person has a conflict of interest or potential conflict of interest or that the Covered Person participated in a decision of the Society without disclosing a conflict of interest or potential conflict of interest and such failure to disclose may have affected the Society’s decision may submit a request to the Judicial Committee to review the matter. The Judicial Committee will conduct a review of available facts and if the committee determines that the complaint is germane to the Society’s well-being, the committee will open an investigation and proceed according to the Society’s bylaws.
  4. Approval. Any proposed transaction in which a Covered Person or Related Party has a conflict of interest or potential conflict of interest must be approved by a majority of the members of the Executive Committee, not including the interested individual. In approving any such transaction, the Executive Committee must make a determination that the transaction is fair, reasonable, and in the Society’s best interest. If a Covered Person or Related Party has a substantial financial interest in such transaction, the Executive Committee must consider alternative transactions to the extent available. The requirements set forth herein are in addition to approval by the House and/or the Board, if such approval is otherwise required.
  5. Record-Keeping. The minutes of the meeting of the House, Board, or Committee, as applicable, shall reflect that the conflict of interest or potential conflict of interest was disclosed, the resolution of the conflict of interest and determinations made, and that the Covered Person did not vote and was not present during deliberations. If alternative transactions were considered, the minutes shall document such consideration as well.

DISCLOSURE

      1. At least annually, Covered Persons must complete, sign, and submit a Disclosure Statement to the Secretary of the Society (the “Secretary”) or their designee, who will keep a confidential file of these Disclosure Statements. Complete, candid, and timely completion of the Disclosure Statement is an obligation of each Covered Person. The Secretary or their designee will be responsible for the administration of the annual notification and disclosure procedure. The Secretary or their designee will provide completed disclosure statements which indicate a conflict of interest or potential conflict of interest to the Judicial Committee for review. Each Covered Person must disclose on the Disclosure Statement all situations that pose a potential or actual conflict of interest and must identify, to the best of his or her knowledge:
        1. Any entity or trust of which such Covered Person or a Related Party with respect to such Covered Person is an officer, director, trustee, member, owner (either as a sole proprietor or a partner) or employee and with which the Society is known to have (or is known to be in discussions to have) a relationship;
        2. Any transaction, agreement or other arrangement in which the Society is a participant (or is known to be in discussions to be a participant) and in which the Key Person, Covered Person or a Related Party with respect to that Covered Person might have a conflicting interest; and
        3. Any other interests that may be in conflict with the Society’s policies, goals and professional standards, and could give rise to conflicts of interest.

        A copy of this Policy will be provided to each Covered Person prior to the commencement of his or her duties. Each Covered Person must acknowledge, not less than annually, that he or she has read and is in compliance with this Policy.

ADOPTION, IMPLEMENTATION, AND COMPLIANCE

The Board may make changes to this Policy from time to time, as it deems appropriate. The Executive Committee will oversee the implementation of, and compliance with, this Policy. The Secretary or their designee will endeavor to ensure that all Covered Persons file Disclosure Statements in accordance with this Policy. If any Covered Person fails to comply with the Policy’s disclosure requirements, the Secretary or their designee will report such failure to the Judicial Committee, which will recommend appropriate corrective action.

AVAILABILITY OF FORMS

The conflict of interest disclosure policy and forms are available on the Society website in the Members Only section or upon request from the Society’s Executive Office.