Significant Financial Disclosure Policy for Investigators

Transcription

1 Significant Financial Disclsure Plicy fr Investigatrs Disclsure Frm in Micrsft Wrd Frmat Intrductin Federal regulatins require the University t manage, reduce, r eliminate any actual r ptential cnflicts f interest that may be presented by a financial interest f an investigatr in cvered federal prgrams. Thus, the University requires that investigatrs disclse any significant financial interest that may present an actual r ptential cnflict f interest in a spnsred prject. Definitins Investigatr means the principal investigatr/prject directr, c-principal investigatrs, and any ther persn at the University wh is respnsible fr the design, cnduct, r reprting f research r educatinal activities funded, r prpsed fr funding, by a cvered federal agency. An actual r ptential cnflict f interest exists when the reviewers reasnably determine that a significant financial interest culd directly and significantly affect the design, cnduct, r reprting f the research r educatinal activities funded r prpsed fr funding. Significant financial interest means anything f mnetary value t the investigatr, his r her spuse r his r her dependent children, including, but nt limited t: Salary r ther payments fr services (e.g., cnsulting fees r hnraria); Equity interests (e.g., stcks, stck ptins r ther wnership interests); Intellectual prperty rights (e.g., patents, cpyrights, and ryalties frm such rights). The term des nt include: Salary, ryalties, r ther such remuneratin frm Radfrd University; Incme frm seminars, lectures, r teaching engagements spnsred by public r nnprfit entities; Incme frm service n advisry cmmittees r review panels fr public r nnprfit entities; r Financial interests in business enterprises r entities if the value f such interests des nt exceed $10,000 (r $10,000 per annum if salary, fees r ther cntinuing payments) and if the value des nt represent mre than a 5% wnership interest fr any ne enterprise r entity when aggregated fr the Investigatr and the Investigatr s spuse and dependent children.

2 Requirements 1. Each Investigatr is required t read this plicy. 2. Each Investigatr is required t disclse the fllwing significant financial interests: Prcedures a. Any Significant Financial Interest f the Investigatr that wuld reasnably appear t be directly and significantly affected by the research r educatinal activities funded, r prpsed fr funding, by an external spnsr; r b. Any Significant Interest f the Investigatr in any entity whse financial interest wuld reasnably appear t be directly and significantly affected by the research r educatinal activities funded, r prpsed by funding, by an external spnsr. Regardless f the abve minimum requirements, an Investigatr, in his r her wn best interest, may chse t disclse any ther financial r related interest that culd present an actual cnflict f interest r be perceived t present a cnflict f interest. Disclsure is a key factr in prtecting ne s reputatin and career frm ptentially embarrassing r harmful allegatins f miscnduct. 1. Each Investigatr must cmplete a Significant Financial Interests Disclsure Frm and attach all required supprting dcumentatin. The cmpleted Disclsure Frm must be submitted with the prpsal and University Internal Review Frm (Prpsal Summary Frm) t the Office f Spnsred Prgrams and Grants Management. Supprting dcumentatin that identifies the business enterprise r entity invlved and the nature and amunt f the interest shuld be submitted in a sealed envelpe marked cnfidential and accmpany the Disclsure Frm and the Prpsal Summary Frm. 2. As required by Federal regulatin, all Significant Financial Interests must be disclsed prir t the time a prpsal is submitted. If a new Significant Financial Interest arises at any time after the submissin f the prpsal thrugh the entire perid f any resulting award, the Investigatr must file a new Disclsure Frm within 14 days f becming aware f a ptential r actual cnflict f interest. 3. If an Investigatr indicates there may be a ptential cnflict f interest cvered by this plicy, the Disclsure Packet will be referred t the University Cnflict f Interest Review Cmmittee (CIRC). Cmmittee members are appinted fr staggered tw-year terms as fllws: ne by each academic dean. The Directr f Spnsred Prgrams and Grants Management will call the meeting tgether and serve as a nn-vting member. The Investigatr whse financial interests are t be discussed will be invited t the meeting, but will nt vte. In the event f a tie, the Prvst shall make the final decisin. 4. Prir t cnsideratin by the CIRC, the Investigatr must develp and present t the CIRC a cnflict f Interest Reslutin Plan that details prpsed steps that will be taken

3 t manage, reduce, r eliminate any actual ptential cnflict f interest presented by a Significant Financial Interest. Examples f cnditins r restrictins that might be prpsed include: Public disclsure f significant financial interests; Review f research prtcl by independent reviews; and Mnitring f research by independent reviewers. The CIRC must review the Reslutin Plan fr apprval with several pssible utcmes. The CIRC may apprve the plan, reject the plan, r apprve the plan with additinal cnditins r restrictins, including the fllwing: Mdificatin f the research plan; Disqualificatin frm participatin in all r a prtin f the research funded; Divestiture f significant financial interests; r Severance f relatinships that create actual r ptential cnflicts f interest. Investigatrs may revise and resubmit rejected Reslutin Plans r may appeal the CIRC decisin. The Prvst will make the final decisin regarding reslutin f appeals. If the CIRC determines that impsing the abve referenced cnditins r restrictins wuld be ineffective r inequitable, r that the ptential negative impacts that may arise frm a significant financial interest are utweighed by interests f scientific prgress technlgy transfer r the public health and welfare, then the CIRC may recmmend that the research g frward withut impsing such cnditins r restrictins. 1. The apprved Reslutin Plan must detail the cnditins r restrictins impsed upn the investigatr in the cnduct f the prject r in the relatinship with business enterprises r entities. It must be signed by the Investigatr, the CIRC chairpersn, and the Directr f Spnsred Prgrams and Grants Management. 2. Actual r ptential cnflicts f interests must be satisfactrily managed, reduced, r eliminated in accrdance with these guidelines prir t accepting any award, r they will be disclsed t the spnsring agency. The Investigatr must therefre ntify the Directr f Spnsred Prgrams and Grants Management in writing nce all the cnditins f the Reslutin Plan have been met.

4 3. The Directr f Spnsred Prgrams and Grants Management will ntify the spnsring agency if a reslutin cannt be agreed upn r if a Reslutin Plan has nt been fllwed. 4. Recrds f investigatr financial disclsures and f actins taken t manage actual r ptential cnflicts f interest, must be retained by the Office f Spnsred Prgrams and Grants Management until three years after the latter f the terminatin r cmpletin f the award t which they relate, r the reslutin f any gvernment actin invlving thse recrds. 5. Whenever an Investigatr has vilated this plicy f the terms f the Reslutin Plan, the CIRC must recmmend sanctins, which may include a disciplinary actin ranging frm a public letter f reprimand t dismissal and terminatin f emplyment. If the vilatin results in a cllateral prceeding under University plicies regarding miscnduct in science, then the CIRC must defer a decisin n sanctins until the miscnduct in science prcess is cmpleted. The CIRC s recmmendatin n sanctins is presented t the Prvst wh will enfrce any disciplinary actin. Effective Date This plicy cmes int effect June 28, 1995, and will remain in effect until mdified r rescinded. It may als be revised in respnse t mdificatins f the applicable federal regulatins and guidelines. Other Regulatins The Virginia State and Lcal Gvernment Cnflict f Interest Act (Cde f Virginia, Sectin ) defines several prhibited cnflicts f interests fr state emplyees. Radfrd University has prmulgated a University Cnflict f Interest Plicy that supplements the statutes f the Cmmnwealth f Virginia. The University Cnflict f Interest Plicy als requires disclsures f a ptential cnflict f interest and specifies penalties fr willful vilatin f the plicy. This Investigatr Financial Disclsure Plicy fr Federally Funded Prjects is unrelated t, and in n way supersedes, the Virginia State and Lcal Gvernment Cnflict f Interest Act r the University Cnflict f Interest Plicy.

5 SIGNIFICANT FINANCIAL INTEREST DISCLOSURE POLICY (Applicable t all spnsred prgrams prpsals/prjects cvered by relevant federal regulatins) What is required? Federal regulatins require institutins t have plicies and prcedures that ensure that Investigatrs disclse any significant financial interest that may present an actual r ptential cnflict f interest in relatinship t externally spnsred prjects. Such disclsures must be made prir t the submissin f a prpsal fr funding*, and institutins must develp specific mechanisms by which cnflicts f interest will be satisfactrily managed, reduced, r eliminated prir t award r acceptance f an award. *If a new reprtable significant financial cnflict f interest arises at any time during the perid after the submissin f the prpsal thrugh the perid f the award, the filing f a disclsure is als required. The new disclsure must be filed with the Office f Spnsred Prgrams and Grants Management within 14 days f the Investigatr s becming aware f the ptential cnflict f interest. Wh is cvered? "Investigatr" means the principal investigatr/prject directr, c-principal investigatrs, and any ther persn at the University wh is respnsible fr the design, cnduct, r reprting f research r educatinal activities funded, r prpsed fr funding, by a cvered federal agency. What must be disclsed? Each Investigatr shall disclse all significant financial interests (including thse f the investigatr s spuse and dependent children: 1. that wuld reasnable appear t be directly and significantly affected by the research r educatinal activities funded, r prpsed fr funding, by an external spnsr; r 2. in entities whse financial interests wuld reasnable appear t be directly and significantly affected by such activities. What is cvered? "Significant financial interests" means anything f mnetary value, including, but nt limited t, salary r ther payments f services (e.g., cnsulting fees r hnraria); equity interests (e.g., stcks, stck ptins r ther wnership interests) and intellectual prperty rights (e.g., patents, cpyrights and ryalties frm such rights). The term des nt include: 1. Salary, ryalties, r ther remuneratin frm Radfrd University; 2. Incme frm seminars, lectures, r teaching engagements spnsred by public r nnprfit entities;

6 3. Incme frm service n advisry cmmittees r review panels fr public r nnprfit entities; r 4. Financial interests in business enterprises r entities if the value f such interests des nt exceed $10,000 (r $10,000 per year) and if the value des nt represent mre than 5% wnership interest fr any ne enterprise r entity when aggregated fr the Investigatr and the Investigatr s spuse and dependent children. Disclsure Prcedures: 1. All Investigatrs must disclse their significant interests using this frm and attach all required supprting dcumentatin. The cmpleted frm and packet must be submitted with the prpsal and University s Internal Review Frm (Prpsal Summary Frm) t the Office f Spnsred Prgrams and Grants Management. Supprting dcumentatin shuld be submitted in a sealed envelpe marked cnfidential. 2. In accrdance with federal regulatins, a cmpleted disclsure must be made by the Investigatr(s) prir t submissin f the prpsal.