Self-dealing definition
Self-dealing means using your employment or position for personal gain, to advance personal interests, or to obtain favors or unauthorized benefits for yourself or any other person. You must not attempt to influence any First Citizens’ transaction for yourself or on behalf of an immediate family member. Some examples of situations that are self-dealing include, but are not limited, to the following:
Self-dealing means receipt of a personal benefit from the corporation to which the recipient is not legally entitled.
Self-dealing means trading in the securities based on information which is price sensitive in nature and to which an employee has access to such information by virtue of his office or position.
More Definitions of Self-dealing
Self-dealing means any direct or indirect—
Self-dealing means, whether during or after the Employment Term, the use of assets, liabilities or resources of the Company (including assets or liabilities contemplated to be acquired or incurred by the Company at the time of termination) or confidential or proprietary information of the Company by Executive for Executive’s personal benefit, including any such use in the direct or indirect purchase or sale of, or loan or investment of any type in, any assets of the Company by Executive or for Executive’s benefit or between Executive and a third party which is unrelated to the Company, without the Company’s prior written authorization.
Self-dealing is involved where an individual or entity is obligated to act as a trustee or fiduciary, as when handling public funds, and chooses to act in a manner that will benefit the individual or entity, directly or indirectly, to the detriment of, and in conflict with, the public purpose for which all grant monies are to be expended.
Self-dealing means any transaction with a related party, that is not on terms and conditions that are the same or similar to that offered to a non-related party and which could generate a lesser return to the institution than with a non-related party.
Self-dealing means any transaction, including transfer of property of a principal to an agent, that directly or indirectly benefits the agent or the immediate family of the agent, regardless of whether the agent has provided consideration for the transaction.
Self-dealing shall not mean the contracting for services or the purchasing of Products and Services, from or to the Affiliates of any Partners, or the management or marketing of the Business by a General Partner or by the Entities or Persons in whom a General Partner or one or more partners of a General Partner has an interest, subject to Sections 2.7-3 and 5.3-8 hereof.
Self-dealing means any direct or indirect transaction with a Disqualified Person described in Internal Revenue Code 4941(d)(1). It is immaterial whether the transaction benefits or injures the Foundation. A private foundation is generally prohibited from entering into any financial transaction with Disqualified Persons. The few exceptions to this rule include paying reasonable compensation to a Disqualified Person (other than a governmental official) for services that are necessary to fulfilling the foundation's charitable purposes. Violations will result in a requirement to correct the act of Self-Dealing, an initial, “tier one” penalty tax equal to ten percent of the amount involved, payable by the self-dealer, and may also be imposed at five percent on foundation managers who participated and knew that the act was Self-Dealing. Furthermore, if the act of Self-Dealing is not corrected within a prescribed timeline, a “second tier” tax of 200% can be imposed on the Disqualified Person who participated, and a 50% tax on the foundation manager who fails to help correct the act of Self-Dealing. Self-Dealing transactions must also be reported on the foundation’s IRS Form 990-PF, which is a publicly available document.