OUR DEFINITION:

 

 

A conflict of interest is a situation in which there is a risk that the personal interests of our Group Managing Director, an introducer, or a partner may impact the Nü Savings Group ('NSG') or one of our client's interests. 

 

 

Avoidance of Conflict of Interest

OUR POLICY:

 

  • It is very important that a future employee of NSG or an introducer does not enter into conflicts of interests or loyalty to a similar business in the same industry (e.g. a rival business).  

 

  • Nepotism - the act of giving favours to relatives, close friends or business acquaintances is unacceptable;

 

  • We rely on an employee or introducer to make their decision solely on the basis of objective criteria, and not to be influenced by personal interests and relationships in business decisions;

 

  • An employee or introducer is to disclose information immediately to the Managing Director of a possible or the potentiality of a conflict of interest between their work and private interests;

 

  • Conflicts of interest may particularly arise if a future employee or an introducer acts as a competitor of NSG, is active for or involved in another company that concludes legal transactions with NSG. 

OUR REMEDY:

 

  • If a future employee or an introducer does not inform the Group Managing Director, or it comes to his attention by a third party; it is grounds for immediate termination of the contract;

 

  • If the conduct of the employee or an introducer damages the reputation of NSG, legal action may be affected;

 

  • If a loss is incurred by NSG, the company is entitled to legal recourse through the Small Claims Court, a County Court, or the High Courts of Justice, depending on the value of the claim.