Conflict of interest

Where your duty to one party is compromised by another interest.

What it means

A conflict arises where a personal interest, or a duty to another client, could affect judgement or loyalty.

Why it matters

For regulated professions it is a disciplinary matter. For directors it is one of the seven statutory duties. For everyone, it is a reputational risk if discovered rather than disclosed.

What it looks like in practice

Run a conflict check before accepting work. Disclose and, where the rules allow, obtain informed consent — or decline.\n\nRecord the check and the decision.

What to watch out for

Acting for both sides of a transaction. Some professions prohibit it outright and others allow it in narrow circumstances with consent.

Where to get proper advice

Your professional body's code of conduct, which is the binding answer.