Code of Conduct and Policy on Conflicts of Interest

I.      Preamble

       New York Medical College (“College”) is an educational and research institution dedicated to the pursuit of knowledge and to the principle of free, open and objective inquiry into the conduct of its teaching, research and service missions.  The faculty and employees at the College share its commitment to these goals.

         The College has been given special privileges and exemptions by society in relation to the activities it performs and teaches others to perform.  It is the responsibility of the College and its employees, in consideration of this public trust, to carry out these purposes and objectives with integrity.  It is essential that all members of the College community deal with all others humanely, with consideration, fairness and honesty.  It is further incumbent upon all faculty and employees neither to engage in any improper conduct nor to create the perception of improper conduct that could adversely affect the College’s reputation, welfare and morale.

Reference also:  NYMC Policies and Procedures Manual, Human Resources, HR 100

 II.     Purpose

         To establish guidelines and set standards for faculty and employees to share with the College in its commitment to achieve the highest level of ethical conduct in its teaching, research and service missions.  To ensure that the College meets its academic and research obligations with integrity and that all members of the College community deal with all others humanely, with consideration, fairness and honesty.  It is further incumbent upon all faculty and employees neither to engage in any improper conduct nor to create the perception of improper conduct that could adversely affect the College’s reputation, welfare and morale.

 III.    Applicability

           This Code of Conduct applies to all College employees and members of the faculty.  The College's Board of Trustees is subject to a separate Conflicts of Interest policy adopted in December 1993.

IV.    Policies and Procedures

         This policy is more general than other policies and procedures prescribed by the College for specific subjects and circumstances, such as those set out in the Administrative Policies and Procedures Manual, in policies covering sponsored programs and all research programs,

         intellectual property and patent rights, in published academic standards, or in regulations issued by federal and state agencies relating to government sponsored grants and contracts.  This policy does not displace or supersede these more specific policies and procedures, but extends and complements them.  It is the obligation of each employee or faculty member to be aware of those policies pertinent to his/her function and responsibilities.

         A.    Definitions

The following definitions and principles of conflicts of interest shall apply:

1.      "Conflicts of Interest" - any situation or relationship that permits a College employee, whether faculty or staff, or anyone else in a position of trust at the College, to gain a financial benefit at the College's expense, beyond normal compensation or as otherwise permitted by express College policy.  Financial benefits are gained at the College's expense when an individual diverts or misuses the College’s resources or privileges afforded by association with the College for personal gain or for the private gain of other individuals or organizations inside or outside the institution.  Such benefits are also gained by diverting opportunities that should belong to the College away from the College or to some restricted College purpose when the restriction is not necessary.

2.      "Property" or "benefit" - anything of value, tangible or intangible, that may be transferred or sold or assigned for money or other consideration, including, but not limited to, cash, stock, stock options or warrants, leases, licenses, real or personal property or property rights, contract rights, rebates, vendor credits or reimbursement of personal expenses, gifts or gratuities.

3.      "Immediate family" - an individual's spouse (or other significant relationship), children, parents, siblings and, for purposes of this policy, all persons dependent upon the individual or resident in the same household.

B.    Policy

It is the policy of the College for faculty and employees to follow the principles outlined in this policy in relation to all of the following areas:

1.    Areas of Conflicts of Interest

The following principles apply with respect to a conflict or possible conflict of interest at the College:

a.  Financial Interests

No individual who is an employee or faculty member in a position to influence the outcome of a transaction affecting the College should be a party to such transaction when it is with another person or organization in which the individual or a member of the individual's immediate family has a financial interest or holds a fiduciary position such as employee, director, shareholder or consultant. For purposes of this policy, a possible conflict of interest includes but may not be limited to:

                                                            i.         an agreement to obtain or receive an ownership or creditor's interest in another entity,

                                                          ii.         an agreement for compensation or consulting payments, dividends, fees, property or other thing of value from another individual or entity,

                                                         iii.         an equity or other ownership or controlling interest in another entity which, together with interests of members of his/her immediate family, amounts to more than 5 percent of the stock or value of the other entity under the most conservative generally accepted valuation technique, more than 10 percent in an entity whose stock or other equity interests are traded publicly on a national exchange, or

                                                        iv.         an interest under a royalty or similar agreement with another organization held by an individual and/or a member(s) of his/her immediate family except as permitted under the College’s Intellectual Property Policy.

In determining items which require disclosure, faculty and employees should refer to existing guidelines, such as those specified in the financial disclosure requirements for sponsored research programs.  In general, the materiality of a financial interest or conflict of interest will be judged by the College on the basis of whether or not the judgment or discretion of the individual in matters affecting the College is or may be influenced by consideration of personal gain or financial benefit.

Reference also:  NYMC Policies and Procedures Manual:

Controllers Section CO 100- CO700

Purchasing Department Section PD100

ORA Conflict of Financial Interest Policy and Disclosure Forms
NYMC Intellectual Property Policy

b.  College's Name and College Association

The name of New York Medical College and the privilege of association with the College as evidenced by a faculty, administrative or other title are valuable assets and attributes.  They are to be used only for legitimate purposes that enhance the College's academic activities and its reputation for fair dealing in the public interest.  No one may use the institution's name or one's professional title or association with the institution for advertising purposes, to identify the institution with an outside entity or to endorse the entity's product without special written approval from the President.

In situations in which association of a faculty or staff member with the College is apparent from written or oral statements or from the context in which the statement(s) is made, the individual must emphasize that his comments or opinions are not to be construed as those of the College, unless that person is speaking in his capacity as a faculty member or employee and such statements are consistent with the position of the College.

The College may and does employ members of the clinical faculty and does afford them compensation in return for teaching, supervision, administration and research that are performed for the College, even though the same faculty might be engaged independently in billing for professional clinical services individually or through their employment by other organizations.  The College is not a vehicle, agent or employer of its clinical faculty in their capacities as providers of clinical services billed to patients or third-party payers, except within the College’s Faculty Practice Plan at Metropolitan Hospital Center and, as may be the case, any University Faculty Practice Corporation under New York State law that the College may form in the future.  Except with respect to the College’s Faculty Practice Plan at Metropolitan Hospital Center, Clinical faculty members and their practice entities are not authorized to provide clinical services under the name “New York Medical College,” nor under the name of any College department or component forming part of the College, including divisions, centers or institutes.  Clinical faculty members and their practice entities are also precluded from billing or collecting fees or corresponding as part of providing clinical services in such a context using the name of the College or any College department or component.  This policy does not preclude a faculty member from identifying himself with the College in his academic capacity.

Clinical faculty members have a responsibility to the medical profession and to the public to become and remain informed about laws, rules and regulations applicable to third party billing for professional services, especially those relating to the Medicare and Medicaid programs.

c.  College Property and Resources

All College property and resources (including funds, personnel, intellectual property and property rights, equipment, supplies and institutional opportunities for financial gain) are to be conserved and used exclusively for the benefit and development of the College in carrying out its mission and purposes and may not be diverted away from the College to the benefit of any other organization or individual.  College property includes information that would not normally be available for public disclosure without approval of the President, the Provost, a Dean or the Chief Financial Officer.

Reference also:  NYMC Policies and Procedures Manual:

Controller's Sections CO 100-CO700,

Human Resources Sections HR 100-HR 900

Information Services Section IS 100

Purchasing Section PD 100

NYMC Intellectual Property Policy

d.   Gratuities

No employee or faculty member shall accept or permit any member of his/her immediate family to accept any gift or gratuity of more than nominal value   from known College contractors or vendors or from any organization, person or entity known to do business with the College.

          Reference also:  NYMC Policy and Procedures Manual:

Human Resources Section HR 712

e.   Political Contributions and Lobbying

By law, no contributions may be made by NYMC, by anyone acting on behalf of NYMC, or with any funds of NYMC from any source to, or for the benefit of, any political campaign or in support of the election of any individual for public office.  No funds of the College may be used for lobbying public officials except as lawfully permitted and with written approval of the College’s President.

f.    Outside Interests and Activities

Memberships on boards of directors, committees, advisory groups of governmental, for-profit or not-for-profit entities) distinct from the College may create potential conflicts of interest or the perception of a conflict.  An ownership interest by the employee or by a member of the employee’s family in any property or entity related to business transactions with the College may create a similar conflict.  These interests and activities should be disclosed according to the procedures described in this policy.

V.           Procedures for Disclosure of Conflicts and Potential Conflicts of Interest

         The College is committed to ensuring for faculty and employees an ethical and equitable environment in which to conduct teaching, in limited circumstances patient care and research while avoiding conflicts of interest and even the appearance of such conflicts.  Given the complexity and diversity of personal and professional relationships and the fact that the perception of a conflict of interest may vary from individual to individual, the College has established a procedure according to which employees and faculty may disclose a potential conflict of interest or obtain an evaluation of any ambiguous situation that may create a conflict of interest or the appearance of a conflict of interest.

A.    Annual Notice

A copy of this policy shall be distributed annually to members of the College Community.

B.    Annual Disclosure

With the annual distribution of a copy of this policy, a disclosure form will be distributed that is intended to determine whether an employee has been or is currently involved in situations of conflict or potential conflict of interest with the College and its interests.  Each individual to whom such a disclosure form is distributed will be expected to review his/her activities and relationships thoughtfully and thoroughly.  Administrative employees and faculty members are to return the disclosure form each year.  Consultation with one’s Department, the Dean, and/or the Institutional Compliance Office should be sought when an employee or faculty member is in doubt about whether an interest or activity creates a conflict of interest.

The disclosure form shall be submitted within the time prescribed to the College’s Human Resources Department.   Failure to complete such a questionnaire responsibly and accurately or to return it as required shall be grounds for disciplinary action, which may include termination.  This disclosure is in addition to those required under the College’s policy relating to extramural support of research projects and all academic activities.  A summary report of the disclosures received by the Human Resources Department shall be provided to the President, the Provost, the Institutional Compliance Officer and to the Audit Committee of the Board of Trustees.

C.    Additional Disclosure Requirements

Each faculty member and employee shall have a continuing obligation to disclose on a timely basis any conflicts of interest or potential conflicts of interest as they arise.

D.    Conflicts Resolution

A Committee appointed by the President comprising of members of College faculty and administration and representing the basic, clinical and health sciences shall be appointed.  The Committee will serve as a review committee in the event of an alleged violation of the Code of Conduct or if there is a need to consult on a conflict or potential conflict of interest.  Cases may be referred to the Committee by the Provost, a Chairperson, a Dean, the Chief Financial Officer or any individual who is unable to resolve concerns at a departmental level.  The Committee shall meet and make a recommendation as to whether the conflict or potential conflict will be prohibited or may be modified.  The Committee will report its findings to the President.

VI.    Standards for Resolution of Conflicts or Potential Conflicts of Interest

         In determining whether a relationship or situation involving a conflict or potential conflict of interest should or may be prohibited, modified or managed by the College, the following considerations, among others, will be taken into account:

A.    Will a requested or proposed resolution of a conflict or potential conflict of interest enhance, not meaningfully affect, or detract from the College's reputation, responsibility or obligation for the objective pursuit of truth in science and the education of students, or a favorable public perception of the College in the manner in which it carries out its mission, goals and objectives

B.    Is it possible practically and realistically to modify or manage a conflict of interest or potential conflict of interest so as to ensure objectivity in the work to be performed and in the results to be reported?

C.    Have all proposed and preexisting relationships, interests and agreements, express or implied, involving the College employee or person in position of trust for the College (and members of his/her immediate family) and third parties involved in the conflict of interest been fully and adequately disclosed and inquired into?

D.    Even if the particular conflict or potential conflict of interest under review is not individually likely to compromise the College's reputation, divert important opportunities from the College, or excessively benefit a College employee or person in a position of trust at the College, has serious consideration been given to the actual and potential negative effects on the College and its interests if, in the aggregate, multiple situations involving similar effects on the College were to be given approval?

E.    Will a conflict or potential conflict of interest, if permitted as first presented or as subsequently modified, result in short-term benefits to the College that may, however, be outweighed by actual or potential long-term harm to the College, the morale of College faculty or staff and/or the College's reputation?

F.    Should agreements or arrangements with other third-party entities be more beneficial to the College than the agreement or arrangement proposed by a College employee, faculty member or other person in a position of trust at the College be explored or solicited to ensure that the College will receive the benefits of the agreement or arrangement objectively most favorable to the institution as a whole?

G.    Despite possible measures to modify or manage a conflict of interest at the College, might even just the apparent incentive for personal gain on the part of the College employee or other person in a position of trust at the College and the consequent challenge to his/her objectivity be sufficiently strong or questionable that the results of the College individual's work will probably be subject to suspicion or criticism by others?

VII.  Requests for Inquiry

            It is the College's expectation and requirement that all persons subject to this Code of Conduct and Conflicts of Interest policy will endeavor faithfully to comply with its terms and requirements.  In the event, however, that any person shall have reason in good faith to believe that a member(s) of the College community subject to this policy is not in compliance with the policy through ignorance, inadvertence or otherwise, that person is requested to report his/her concern in a timely manner, on an identified or an anonymous basis, in writing or by telephone, to the College’s Institutional Compliance Officer or Compliance Director.  Thereafter, the Institutional Compliance Officer or Compliance Director shall conduct the appropriate inquiry into the facts and process any matters coming within this policy as provided by its terms.

VIII.    Interpretations

            The President of New York Medical College shall have the authority when he deems it necessary to issue interpretations of the terms and provisions of this policy which shall be binding on the participants subject to review by the Board of Trustees or its Audit Committee.

Approved by the Board of Trustees on October 1, 1998, December 13, 2006 and December 15, 2008. ___________