As UCL receives public and other funds it has a duty to fulfil the highest standards of corporate governance. The UCL Declaration of Interest policy applies to all staff and requires individuals to declare any outside interests that could conflict with, have the potential to conflict, or could be perceived to conflict with the interests of UCL.
In order for UCL and its employees to maintain the highest standards of integrity and reputation, it is essential that all employees declare any interest that they, or members of their family, may have that could give the appearance of a conflict, even where no actual conflict exists.
Conflicts on interest are not restricted to just financial interest but include non-financial interests as well, for instance enhancement of an individual's career, education or professional reputation; access to privileged information or facilities (see Determining conflict of interest).
Declarations should ideally be made in advance when it is recognised that a conflict may occur, or if unknown at the time the conflict arises. In addition, all staff (including professional services staff) are expected to submit an annual declaration on interest, even if no conflicts exists. In these situations, the response would be 'nil'.