Conflicts of interest

A conflict of interest may be actual, potential or apparent. It arises, for example, when an expert examines a work that he or she sold, when a staff member handles the file of a relative, or when a committee member holds shares in a gallery.

Having an interest is not a fault in itself. The fault begins when the interest is not declared or when the person takes part in the decision.

Every staff member, every accredited expert and every member of the bodies completes an annual declaration. It lists financial interests, external activities, family ties with market players and personal collections.

The declaration is updated within thirty days (indicative) after any significant change. It is kept in a confidential registry.

When a conflict is identified, the person concerned recuses himself or herself: he or she takes part in neither the investigation nor the decision, and does not receive the documents in the file. A replacement is designated by the line manager.

The recusal is recorded in the file, without detailing the reasons, in order to protect privacy while ensuring traceability.

In the art market, ties are frequent: an expert may advise collectors, a curator may sit on an acquisitions committee. The Organization governs these situations through precise rules, for example the ban on certifying a work in which one has an interest.

Accredited experts do not assess, for two years, a work that they sold or bought in a personal capacity (indicative).

Each year the ethics officer checks a sample of declarations, in liaison with internal audit. Discrepancies are examined by the Arbitration and Ethics Committee.

A deliberate omission is a disciplinary breach. A declaration made spontaneously and on time is, on the contrary, valued and never sanctioned.