Principles of Business Conduct Conflict of Interest Disclosure Statement

As used in this statement, “IEEE” means The Institute of Electrical and Electronics Engineers, Inc., and any company owned in whole or in part, directly or indirectly, by it, including any specific project in which any such company is a participant.

As used in this statement, a member of your "immediate family" means your spouse and children, and the father, mother, sisters, and brothers of yourself and your spouse. You are not required to question members of your family for this statement. It is sufficient to give the facts as you know them or believe them to be.

As used in this statement, "financial interest" includes (except as stated below) any stock, bond, or other debt obligation, option, or right to purchase stock, share in profits, investment, partnership interest, or other proprietary interest of any nature.

Ownership of securities in a corporation shall not be deemed to constitute financial interest therein within the meaning of this questionnaire, if all the following conditions are met:

(a) the securities are traded on a national securities exchange, or regularly reported in over-the-counter quotations in the financial press;

(b) the securities owned by you and, to your knowledge or belief, owned by members of your immediate family do not exceed one-tenth of 1% of the outstanding securities of the same class of such corporation; and

(c) the market value of the securities, so owned, does not exceed 50% of your gross annual revenue. 

"Financial interest" also includes employment and contractual relationships. 

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Example:  
The individual would have a potential conflict of interest if they or an immediate family member were employed by Dell and/or had contractual relationships with IEEE for the provision of goods or services to IEEE (e.g., lease or purchase of PCs).  In order to avoid the potential for a conflict of interest, the individual is advised to recuse themselves from (decline to participate in) any decision-making that involves Dell computers.

In answering this statement’s questions, you should consider that you have Participated in a transaction on behalf of IEEE if you have acted directly or have recommended, directed, authorized, or approved the action of another who has acted for IEEE in the transaction, or if you have been involved in the selection or specification of the property purchased, sold, or leased or the services procured, even though you may not have been involved in the actual negotiation or transaction.

Example #1:  
An employee or volunteer would be considered to have a potential conflict of interest if they participated in the process of selecting personal computers and an immediate family member’s job responsibilities involve the sale of personal computers to IEEE. 

Again, in such cases, the individual should reveal the potential conflict in their response to the questions on this form. In such cases, the employee or volunteer would be asked to recuse themselves from involvement in such decision-making.

Example #2:
A volunteer or member of their immediate family serves as an editor or in another decision-making capacity for an IEEE publication and also serves in a similar capacity for a competing non-IEEE publication.  This potential conflict of interest should be reported in responses to questions 1, 2, and 3 included in the form.

In order to manage the potential conflict, respondents would likely be asked to recuse themselves from any decision-making with respect to issues that relate to both the IEEE publication and the competing non-IEEE publication. 

Example #3:  
A volunteer serves in a decision-making capacity for an IEEE conference and also has a direct or indirect interest in a potential supplier of goods and/or services to the conference (e.g., registration services). This potential conflict should be reported in responses to questions 1, 2, and 3 included in the form.

In order to manage the potential conflict, respondents would likely be asked to recuse themselves from the selection process for such goods and services.

Example #4:  
A volunteer who serves on an EAB committee would be considered to have a potential conflict of interest if s/he participates in international accreditation activities and receives for this service gifts, remuneration, or personal income (as opposed to receiving reimbursement for travel and lodging expenses). The reason is that EAB decisions on accreditation activities may affect this volunteer's future income.

In such cases, the individual should reveal the potential conflict in the response to the questions on this form, and may be asked to recuse herself/himself from participation in any discussion or vote regarding accreditation in the country or countries where s/he performs or expects to perform accreditation services for a fee.

As used in this statement, "loan" means a loan of money, property, or services other than a bank loan at prevailing interest rates.

Example:
In this case, a potential supplier might have loaned a personal computer to an employee or volunteer.  If that individual is involved in the selection of PCs, the situation should be revealed in the COI disclosure statement under Question 4, and s/he should recuse themselves from participation in the decision-making process for the subject equipment.

The transactions to which this statement relates are (a) purchases, sales and leases, and contracts for the purchase, sale or lease of property of any kind, or (b) the procurement of services such as printing, advertising and catering without charge to IEEE.

Example:
If an employee or volunteer were to have decision-making responsibility for the purchase or lease of PCs and they or their immediate family member had worked for the involved supplier, during the prior twelve months, they would be considered to have a potential conflict of interest that should be disclosed in the Conflict of Interest disclosure statement. In response to this disclosure, they would be asked to recuse themselves from the decision-making process for the purchase or lease of PCs by the IEEE.

Compensation from an unrelated organization does not include continuation of payment of your regular compensation from your employer while you provide services without charge to IEEE.