US Tightens Regulation on Conflicts of Interest
Today some very interesting–and potentially helpful–legislation is going into effect for several non-profit foundations in the U.S.
The U.S. Department of Health and Human Services has revised the current regulation of “conflicts of interest” clauses for non-profit organizations, forcing them to enact greater accountability to the general public. The goal is to reduce financial conflicts of interests among federally funded researchers who also receive payments or stock from drug and medical device companies, according to a report by the Washington Post.
This can be a potentially great thing not only for what the JDCA is trying to accomplish, but for a myriad of other industries. Some of the changes include lowering the disclosure amount of “conflicts of interest” from 10,000 to 5,000 dollars, and making it so more information on the “conflicts of interest” of top personel is available to the public. It must be said that as of right now, these regulations only really apply to few specific foundations: the Susan G. Komen Foundation, Alliance for Lupus Research, The American Cancer Society, American Heart Association, and the Arthritis Foundation. However, it only takes a few feet of snow to start an avalanche, and if these new more restrictive measures work, there’s a good chance of them spreading to more organizations.
When researchers receive funding from opposing interests, it can stymie progress. True change can happen only by holding corporations, their leaders, and their researchers accountable for conflicting monetary interests, and we’re glad to see this step towards progress.
For more information, check out the link above.
Until Next Time,
–Nick
Ironically, several U.S. lawmakers in Washington now want to make it EASIER as far as conflicts-of-interest rules across the board, all in the name of “economic development”.