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Fiduciary Training
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  1. Fiduciary Training February 16, 2012

  2. Topics • The Gift Ban • Revolving Door • Political Activities • Ex Parte Communications

  3. Overview 5 ILCS 430/1 Article 1- General Provisions State Officers and Employees Ethics Act • Definitions • Prohibited activities

  4. Overview 5 ILCS 430/5 Article 5- Ethical Conduct • Personnel policies • Ethics training • Prohibited activities • Procurement; Revolving Door • Ex Parte communications

  5. The Gift Ban

  6. The Gift Ban- 5 ILCS 430/10 • Sec: 10-10. Gift ban. Except as otherwise provided in this Article, no officer, member or State employee shall intentionally solicit or accept any gift from any prohibited source or in violation of any federal or State statute, rule, or regulation. This ban applies to and includes the spouse of and immediate family living with the officer, member or State employee. No prohibited source shall intentionally offer or make a gift that violates this Section.

  7. What is a Gift? • “Gift” means any gratuity, discount, entertainment, hospitality, loan, forbearance, or other tangible or intangible item having monetary value including, but not limited to, cash, food and drink, and honoraria for speaking engagements related to or attributable to government employment or the official position of an employee, member or officer. (5 ILCS 430/1-5)

  8. What is a Prohibited Source? • “Prohibited source” means any person or entity who: • Is seeking official action from… • Does business or seeks to do business… • Conducts activities regulated… • Has interests that may be substantially affected… • Is registered or required to be registered… • Is an agent of…

  9. Exceptions • Available to the public on the same terms; • Member pays market value for the gift; • From a relative; • From a personal friend; • Food or drink that does not exceed $75 • Food, drink, lodging or transportation related to outside business, employment or activities; • Between State agency/government employees; • Bequest, inheritance, or other transfer at death; • Less than $100 during a calendar year; or • Contribution lawfully made or activities associated with political fundraising.

  10. Disposing of Unsolicited Gifts • Prompt return to sender; • Gift the gift to a not-for-profit organization; or • Give the value of the gift to a not-for-profit organization.

  11. Penalties for Violations • A person who intentionally violates any provision of Article 10 is guilty of a business offense and subject to a fine of at least $1,001 and up to $5,000. • Executive Ethics Commission may also levy an administrative fine up to $5,000. • Violators are subject to discharge.

  12. Revolving Door

  13. Simply put… • Applies for contracts entered into during the year preceding termination of State service. • Cannot knowingly accept employment or receive compensation or fees for services from the person or entity. • In place for one year after termination. • Applies to spouses or family members living with former Board Member.

  14. Violations • Two ways to violate: • Knowingly accepting employment or compensation from an entity (or parent or subsidiary) about which a Board Member made contracting decisions. • Failing to notify the Executive Inspector General prior to accepting employment or compensation. • Penalty includes an administrative fine of up to three times the total annual compensation that would have been obtained (and a Class A misdemeanor)

  15. Political Activities (and related matters)

  16. Prohibited Activities • Use of State property or resources for the benefit of a campaign for elective office or any political organization. • Solicitation, acceptance, offering or making political campaign contributions on State property. • Promise anything of value related to State government, including job positions, appointments, promotions, and salary increases, in consideration for a political contribution. • Issue public service announcements related to political activities.

  17. Ex Parte Communications

  18. Definitions “Ex Parte Communication” includes all written or oral communications from any person either giving or requesting information or making an argument regarding potential official action concerning any investment matters under the Board’s consideration. “Interested Party” includes any person or entity whose rights, privileges, or interest are the subject of or are directly affected by an investment matter.

  19. Process Communication with Interested Parties • Memorialize the communication. • Make part of the record. Communication with Non-Interested Parties • Memorialize the communication • Inform ISBI’s Ethics Officer • Make part of the record • File the communication with the Executive Ethics Commission Includes an interested party’s attorney or official representative.

  20. Questions and Comments Thank you for your participation today