Faculty Handbook: Academic Responsibilities of Faculty
2.17  Financial Disclosure for Sponsored Programs

(An addendum to the Conflicts of Interest and Commitment Policy; Campus Council, October 26, 1995)

Beginning October 1, 1995, federal regulations require that the university manage, reduce, or eliminate any actual or potential conflicts of interest that may be presented by a financial interest of a principal investigator or project director of a sponsored project. Effective in August 2012, the regulations were modified to further reduce the likelihood that a financial conflict of interest would affect federally sponsored research. Accordingly, the University must require that investigators and project directors disclose any significant financial interest that may present an actual or potential conflict of interest in relation to a sponsored project. The federal regulations also require that 1) such a disclosure be made before submitting a sponsored project proposal, or, if a significant financial interest develops after a proposal submission or issuance of award, when such significant financial interest comes into existence, 2) all travel supported by an external entity, other than that supported by a state, local, or federal government entity or another institution of higher education, be reported to the investigator’s home institution, and 3) all personnel in a position to influence the research activity undergo initial training regarding financial conflicts of interest and that such training be renewed every four years. In order to comply with these federal requirements regarding sponsored project proposal submissions, the University of Arkansas, Fayetteville, has established this policy. See the full text of the Conflicts of Interest and Commitment Policy at http://vcfa.uark.edu/policies/fayetteville/vprs/4040.php