FAQs - Disclosing Outside Financial Relationships

Please review the frequently asked questions related to disclosing outside financial relationships.

Do financial interests always create a conflict?

Not always. Some types of interests are of more concern than others because the risks are greater. The key for the Financial Conflicts of Interest in Research Committee (FCOIRC) is to learn about the financial interests, determine whether those interests create a conflict, and if so, develop the best approach to manage the conflict.

What types of conflicts are of greatest concern?

Conflicts relating to human subjects research undergo the greatest level of scrutiny because of the need to protect the subjects. Financial interests could influence the way a conflicted individual enrolls subjects, obtains consent, or analyzes data; if such performances were biased, it could have implications for the safety of the study subjects and for the conclusions drawn from the study, e.g., the efficacy of a particular treatment. The Icahn School of Medicine at Mount Sinai takes great care to ensure that such conflicts are eliminated or appropriately managed.

What are the disclosure requirements on patents?

Both pending patents and issued patents are considered intellectual property and must be disclosed on your Financial Interest in Research Disclosure Form.

What happens if I acquire new financial interests during a research study?

If you do acquire new financial interests, you must disclose them immediately—by updating your online annual form as well as your research disclosure form, both on Sinai Central within 30 days of acquiring a new financial interest—so that the Financial Conflicts of Interest in Research Committee can evaluate the potential relevance to and impact on the study.

What must I report for the new NIH travel disclosure requirement?

If you are currently named on an NIH grant or think you might become involved on an NIH-funded project, you should keep complete records of all of your travel (transportation, food, hotels, etc.) paid for or reimbursed by an outside entity other than another academic institution or the government. Even if the travel is not done in connection to your NIH studies, there are indications that the NIH may still consider some travel as a relevant financial interest.