California Code of Regulations
Title 10 - Investment
Chapter 3 - Commissioner of Financial Protection and Innovation
Subchapter 1 - General Provisions
Article 3 - Conflict of Interest
Appendix - Appendix
| Designated Employees | Disclosure Categories |
| Commissioner of Business Oversight | 1 |
| Chief Deputy Commissioner | 1 |
| Special Assistant to the Commissioner | 1 |
| General Counsel and Assistant General Counsel | 1 |
| Senior Deputy Commissioner and Deputy Commissioners in the Division of Corporations | 2 |
| Senior Deputy Commissioner and Deputy Commissioners in the Division of Financial Institutions | 2 |
| Deputy Commissioner and Counsel assigned to the Division of Law & Policy | 2 |
| Deputy Commissioner and Counsel assigned to the Enforcement Division | 2 |
| Deputy Commissioner for Legislation | 2 |
| Deputy Commissioner for Public Affairs | 3 |
| Corporations Examiners, Investigators, and Auditors (any grade) | 3 |
| Financial Institutions Managers and Examiners (any grade) | 3 |
| Deputy Commissioner for Administration | 4 |
| Staff Services Manager (any grade) | 4 |
| Data Processing Manager (any grade) | 4 |
| Systems Software Specialists (any grade), Information Systems Analysts (any grade), and Programmer Analysts (any grade) | 4 |
| Accounting Administrators, Accounting Officers, Accountants (any grade), and Budget Analysts (any grade) | 4 |
| Business Services Officers and Business Services Assistants | 4 |
| All Contract Analysts and Procurement Staff | 4 |
| Training Officer | 4 |
| Consultants/New Positions* | 1 |
Disclosure Categories
Category 1.
Each "designated employee" in this category shall report:
All investments, income (including gifts, loans, and travel payments), business positions, and interests in real property.
Category 2.
Each "designated employee" in this category shall report:
(1) Any investment, income (including gifts, loans, and travel payments) or business position in any business entity which:
(a) holds a license, certificate, permit, or registration from the Commissioner of Business Oversight;
(b) the employee knows or reasonably should know has transacted business with the Department;
(c) has been the subject of any legislation or rulemaking activity during the preceding two years; or
(d) the employee knows or has reason to know will transact business with the Department or be subject of any legislation or rulemaking activity.
(2) Any interest in real property that has been rented or leased to in the previous two years, or which the employee knows or has reason to know may be rented, leased, or sold to a business entity or non-profit, which;
(a) Holds a license, certificate, permit, or registration from the Commissioner of Business Oversight;
(b) has transacted with the Department;
(c) been the subject of any legislation or rulemaking during the preceding two years; or
(d) the employee knows or has reason to know will transact business with the Department or be subject of any legislation or rulemaking activity.
(3) To "transact business" with the Department of Business Oversight includes, but is not limited to, any activity or contact with the Department in connection with a permit, order, registration, license, certificate, opinion, complaint, or enforcement action. A business entity, non-profit, or income source has been or will be "the subject of any legislation or rulemaking activity" if the business entity, non-profit, or income source is, was, will be, or would have been affected by any legislation or rule in connection with the laws over which the Commissioner of Business Oversight has jurisdiction, whether or not such legislation or rule was enacted, adopted, amended, or repealed.
Category 3.
Each "designated employee" in this category shall report:
(1) Any investment, income (including gifts, loans, and travel payments) or business position in any business entity which:
(a) holds a license, certificate, permit, or registration from the Commissioner of Business Oversight;
(b) the employee knows or has reason to know has transacted business on behalf of the Department during the preceding two years;
(c) the employee knows or has reason to know that he or she will transact business on behalf of the Department.
(2) Any interest in real property that has been rented or leased to in the previous two years, or which the designated employee knows or has reason to know may be rented, leased, or sold to a business entity or non-profit which:
(a) holds a license, certificate, permit, or registration from the Commissioner of Business Oversight;
(b) the employee knows or has reason to know has transacted business on behalf of the Department of Business Oversight during the preceding two years; or
(c) the employee knows or has reason to know that he or she will transact business on behalf of the Department.
(3) For the purposes of this category, to "transact business" with the Department of Business Oversight" includes, but is not limited to, preparing or reviewing material in connection with a permit, order, registration, license, certificate, opinion, complaint, enforcement action, legislation, or rules in connection with the laws over which the Commissioner of Business Oversight has jurisdiction.
(4) Absent specific knowledge to the contrary which, in light of his or her specific functions and duties within the Department which would put the employee on notice, a designated employee in Category 3 has no reason to know that he or she will transact business on behalf of the Department with any business entity solely by reason of its being an issuer of securities that are exempted from the qualification requirement of the Corporate Securities Law of 1968, Corporations Code section 25000 et seq.
Category 4.
Each "designated employee" in this category shall report:
(1) Any investment, income (including gifts, loans and travel payments) or business position in any business entity which during the preceding two years has provided, or which the employee knows or has reason to know may provide, the Department of Business Oversight with services, supplies, materials, machines, equipment, or office space.
(2) Any interest in real property leased to or rented to the Department of Business Oversight.
(3) Any interest in real property that the employee knows or has reason to know has been rented or leased to in the preceding two years, or has reason to know may be rented, leased, or sold to a business entity or non-profit that has provided or may provide the Department of Business Oversight with services, supplies, materials, machines, equipment, or office space.
*Consultants/New Positions
A consultant or new position shall disclose their economic interests pursuant to the broadest disclosure category in the Code (Category 1) subject to the following limitations:
The Commissioner may determine in writing that a particular consultant, although a "designated position" is hired to perform a range of duties limited in scope and thus is not required to fully comply with the disclosure requirements described in this category. Such written determination shall include a description of the duties and, based upon that description, a statement of the extent of disclosure requirements. The Commissioner's determination is a public record and shall be released for public inspection in the same manner and location as this conflict of interest code.
