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Understanding Conflicts of Interest in Asset Management (OCC)
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Understanding Conflicts of Interest in Asset Management: Show Notes
In this episode, Samantha Shares explores the critical topic of conflicts of interest in asset management based on the OCC Comptroller's Handbook. While originally created for banks, these principle-based guidelines provide an excellent framework for credit unions managing conflicts in their asset management activities. The episode covers what constitutes a conflict of interest, common scenarios where conflicts arise, the four main risk categories (compliance, operational, reputation, and strategic), and key components of effective risk management. Samantha details specific conflict situations including self-deposits, proprietary investment products, brokerage allocation, and soft dollar arrangements, while outlining four essential principles for handling conflicts: proper authorization, full disclosure, fairness and reasonableness, and maintaining the client's best interest. The episode emphasizes that managing conflicts effectively isn't just about regulatory compliance—it's fundamental to maintaining client trust and protecting your institution's reputation.
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