Sec. 2A. CONFLICTS OF INTEREST. (a) The existence or appearance of a conflict of interest on the part of any trustee is detrimental to the proper functioning of the pension system if not properly addressed. An appointed trustee may not deliberate or vote on an action relating to the investment of pension system assets if:
(1) the trustee or an entity with which the trustee is affiliated:
(A) is a competitor or an affiliate of the person or firm that is the subject of or otherwise under consideration in the action; or
(B) likely would be subject to a due diligence review by the person or firm that is under consideration in the investment-related action; or
(2) the pension board otherwise determines that the proposed action would create a direct or indirect benefit for the appointed trustee or a firm with which the appointed trustee is affiliated.
(b) The city attorney shall:
(1) provide annual training to trustees appointed by the city regarding conflicts of interest; and
(2) to the extent authorized by city ordinances, at the request of the external affairs committee of the pension board, review and take appropriate action on a complaint alleging a conflict of interest on the part of a city-appointed trustee.
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