Business Council Submits Comments on JCOPE’s Reportable Business Relationship Guidelines

In response to JCOPE’s request for comments on its proposed guidelines relating the disclosure of “reportable business relationships,” the Business Council of NYS (BCNYS) recently submitted comments expressing some concerns. The comments were submitted by Ken Pokalsky, BCNYS Vice President, Government Affairs.

The Business Council raised concerns about the proposed “reason to know” standard, especially where it is applied to lesser-known public officials; the expansive definition of the term “client”; and the need for flexibility with respect to how “compensation” is defined (specifically recommending the exclusion of commercial loans and political contributions).

Ken has been working to help JCOPE’s staff understand the compliance challenges the current proposed guidelines would pose to the regulated business community.

It is possible that when JCOPE meets later this week, the Commissioners will revise their guidelines in response to these and other public comments.