Family Conflict of Interest

Family relationships may pose a conflict of interest. Like financial interests, family conflicts apply mostly to executives, owners, or officers, however there are circumstances for everyone else where family conflicts can occur. The bottom line is that you should avoid engaging in company business transactions with a relative by blood or marriage or with a firm where a relative is a principal, officer, or representative. A conflict of interest is created when a family member works for a supplier, a customer, or a competitor, a family member has a significant financial interest in a supplier, customer, or competitor, or a family member receives gifts or benefits offered by a supplier, customer, or competitor. Also, you should be aware of your company’s policies regarding family members who supervise others. Remember that everyone should receive the same treatment and employees who are family members should not be treated any different because of their familial status. Of course, the company may have limitations or rules regarding family members in a supervisory capacity over another. If in doubt, check your specific company policy on this.

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