On Friday, the Trump Organization published a new ethics policy that it claims will restrict President-elect Donald Trump’s ability to influence management choices and other business-related matters while he is in the White House.
According to a five-page white paper on the ethics strategy that was sent to CNBC, Trump will only receive broad business updates and have restricted access to the company’s financial data.
According to the corporation, the new president’s investments would be kept in a trust under his children’s management and run independently by outside financial institutions, who will not consult him on particular holdings or transactions.
In the meanwhile, the Trump Organization announced that, with the exception of ordinary course transactions, it will not enter into any new significant contracts or transactions with foreign governments.
Whether the company will be able to conduct new business with private foreign entities is not specified in the white paper.
After Trump won the 2016 election, the Trump Organization pulled out of a number of international agreements, but executive vice president Eric Trump recently told The Wall Street Journal that he received little recognition for it.
The Trump Organization also announced Friday that it will once again donate to the U.S. Treasury the revenues from foreign governments at its hotels and other enterprises, just as it did during Trump’s first term.
Members of the U.S. Secret Service and other comparable government entities that utilize the company’s hospitality properties will also be eligible for discounted prices.
In a separate press statement, Eric Trump stated that the Trump Organization is committed to not just fulfilling but also significantly beyond its legal and ethical responsibilities during his father’s presidency.
Additionally, the business declared that William Burck, an attorney, had been hired as its new outside ethical advisor.
Burck, the worldwide co-chair of the legal firm Quinn Emanuel LLP, stated in the press release that it is a pleasure and a joy to collaborate with such a wonderful organization during this unprecedented and critical chapter in its illustrious and storied history.
The Trump Organization’s new policies were first reported by the Journal.