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Conflict of Interest Policy

Policy

Conflict of interest arises whenever the personal, professional or business interests of an employee are potentially at odds with the best interests of Global Marketplace.

All employees are required to act in good faith towards Global Marketplace. Employees need to be aware of the potential for a conflict of interest to arise and should always act in the best interests of Global Marketplace.

As individuals, employees may have private interests that from time to time conflict, or appear to conflict, with employment with Global Marketplace. Employees should aim to avoid being put in a situation where there may be a conflict between the interests of Global Marketplace and his or her own personal or professional interests, or those of relatives or friends. Where such a conflict occurs (or is perceived to occur), the interests of Global Marketplace will be balanced against the interests of the staff member and, unless exceptional circumstances exist, be resolved in favour of Global Marketplace.

It is impossible to define all potential areas of conflict of interest. If an employee is in doubt as to whether a conflict exists, they should raise the matter with management.

Procedure

Employees must:

  • declare any potential, actual or perceived conflicts of interest that exist on becoming employed by Global Marketplace to the Managing Director
  • declare any potential, actual or perceived conflicts of interest that arise or are likely to arise during employment by Global Marketplace to the Managing Director
  • avoid being placed in a situation where there is potential, actual or perceived conflict of interest if at all possible

If an employee declares such an interest, Global Marketplace will review the potential areas of conflict with the employee and mutually agree on practical arrangements to resolve the situation.

Employees must disclose any other employment that might cause a conflict of interest with Global Marketplace to the Managing Director. Where there are external involvements that do not represent a conflict of interest, these must not affect performance or attendance whilst working at Global Marketplace. If such involvement does affect performance or attendance it will be considered a conflict of interest.

Employees must not set up or engage in private business or undertake other employment in direct or indirect competition with Global Marketplace using knowledge, contacts and/or materials gained during the course of employment with Global Marketplace.

Engaging in other business interests during work hours will result in strong performance improvement action.

Failure to declare a potential, actual or perceived conflict of interest or to take remedial action agreed with Global Marketplace, in a timely manner, may result in performance improvement proceedings, including dismissal.

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