Code of Ethics and Conflicts of Interest

Code of Ethics | Global Self-Care Federation

The 2023 Code of Ethics includes a section entitled “Conflicts of Interest”.

Here are some Do’s and Don’ts from that section.

Do

In the case of a conflict, in advance

  • disclose to the client or prospective client any transaction or relationship that could reasonably be expected to give rise to a conflict of interest
  • advise the client or prospective client to seek independent professional advice
  • take all reasonable steps to ensure that the client or prospective client has demonstrated a reasonable understanding of the potential conflict of interest
  • obtain consent in writing from the client or prospective client to the provision of the registrant’s services despite the potential conflict of interest.

Don’t

  • provide services, including representation, to a client or continue to provide services to a client where the interests may conflict

So, these are the new conflicts of interest rules. First, don’t act. Then, if you do:

  1. disclose the conflict,
  2. recommend professional advice,
  3. ensure the client’s informed consent, and
  4. document the client’s decision.

Going forward, there should be a Form of some nature, similar to Form 127 for this particular purpose. You may also use an email for #1, and #2, but you will require some written documentation from the prospective client BEFORE they actually become a client.

Brian Madigan LL.B., Broker

www.OntarioRealEstateSource.com

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