Oregon Department of Consumer and Business Services, Director's Office

Rule Rule 440-015-0110
Indebtedness and Financial Interest of Department Employees


(1)

Due to the scope of their authority, and to prevent actual and potential conflicts of interest or the appearance of conflicts of interest, certain employees of the Department holding executive and senior management positions, or positions exercising particular regulatory responsibilities, shall not be or become indebted to, or hold a financial interest in, or engage in business transactions with, entities over which those employees exercise regulatory responsibilities.

(2)

Positions subject to section (1) of this rule include, but are not limited to, the Director, the Deputy Director, and the Administrators and Deputy Administrators of the Building Codes Division, Division of Finance and Corporate Securities, Insurance Division, Occupational Safety and Health Division (Oregon OSHA), and Workers’ Compensation Division. The Director, or division administrators subject to the Director’s approval, may designate additional positions as subject to section (1) of this rule. In determining which positions shall be designated pursuant to this section, the Director or administrator shall consider the scope of the responsibilities assigned to the position and the extent to which employee holding the position could influence the regulation of an entity regulated by the Department.

(3)

For each designated position, the Director (or administrator, for positions designated by an administrator) shall identify the specific types of entities in which employees holding the position may not hold financial interests or engaged in business transactions, and to which employees holding the position may not become indebted.

(4)

Any employee holding a designated position shall disclose any financial interests, business transactions or indebtedness prohibited by this rule, and shall come into compliance with this rule not later than 30 days following the effective date of this rule. The Director may grant extensions to prevent undue hardship, and may grant exceptions in the event of unusual circumstances (such as inheritance), subject to such conditions as the Director shall determine.

(5)

Employees newly hired into a designated position shall disclose any financial interests, business transactions or indebtedness prohibited by this rule, and shall promptly divest themselves of any such interests or indebtedness. The Director may allow such employees a reasonable period to accomplish such divestiture to prevent undue hardship, subject to such conditions as the Director shall determine.

(6)

Except as provided in this rule, or in ORS 731.228 (Prohibited interests and rewards) or any other statutes, rules or policies restricting the indebtedness and interests of employees, and subject to applicable statutes, rules, and policies relating to conflicts of interest and ethics, Department employees may be indebted to or hold a financial interest in an entity regulated by the Department.
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Last accessed
Jun. 8, 2021