Government Operations: Actions Needed To Improve the Federal Communications Commission's Financial Disclosure System - GAO Report
|Date:||Dec. 21, 1976|
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Conflict of interests
Independent regulatory commissions
Improvements that are needed in the Federal Communications Commission's (FCC) financial disclosure system were discussed in accordance with standards of ethical conduct for government officials.
Several weaknesses were found in the present system. Criteria for identifying positions requiring disclosure were too general. Procedures for collection, processing, and follow-up of statements were inadequate. FCC interpretation of regulations allowed family members to have holdings that would be prohibited if held directly. GAO felt that this practice could result in conflicts of interest.