MIR 2.5.10

The Regulator may also have regard to the contracts of employment, staff rules, letters of appointment for members of the Governing Body, members of relevant committees and other Key Individuals and other guidance given to individuals on handling conflicts of interest. Guidance to individuals may need to cover:

(a) the need for prompt disclosure of a conflict of interest to enable others, who are not affected by the conflict, to assist in deciding how it should be managed;
(b) the circumstances in which a general disclosure of conflicts of interest in advance of any particular instance in which a conflict of interest arises may be sufficient;
(c) the circumstances in which a general advance disclosure may not be adequate;
(d) the circumstances in which it would be appropriate for a conflicted individual to withdraw from involvement in the matter concerned, without disclosing the interest; and
(e) the circumstances in which safeguards in addition to disclosure would be required, such as the withdrawal of the individual from the decision-making process, or from access to relevant information.