Financial Disclosure

Why Financial Disclosure?

The Maryland State Ethics Commission (SEC) requires employees in some University positions to file regular financial disclosure statements. This process ensures the impartiality and independent judgment of these employees by having them disclose interests (i.e., real estate, equity, debts, gifts, etc.) that could create conflicts of interest. Affected positions may have a direct impact on the formation of University contracts, budgets, and procurement, as well as regulatory and licensing matters.

Financial Disclosure FAQs

See our Financial Disclosure FAQs for scenarios requiring financial disclosure, a flow chart for financial disclosure decision-making, and a description of filer responsibilities.

The Financial Disclosure Designation Process

Financial Disclosure Designation

• Step 1: An initial financial disclosure determination is made during the creation/editing of a position.
• Step 2: The position is routed to UHR Compliance to make a final financial disclosure determination.

Financial Disclosure Reports

UHR Compliance runs a monthly report to locate and evaluate the following:

• Employees hired into financial disclosure positions
• Employees terminated from financial disclosure positions

These results are submitted to the Maryland State Ethics Commission (SEC) each month.

Financial Disclosure Communications

First-time filers receive the following from UHR Compliance

• Instructions to file a first-time disclosure
• Notice of annual disclosure requirements
• Information about the SEC’s portal
• Notice to complete the required training
• Possible penalties for not filing

Terminated filers receive the following from UHR Compliance

• Instructions to file the required end-of-service disclosure statement
• Possible penalties for not filing

Filers receive the following from the SEC

• Annual filing reminders
• Communications about delinquency
• Possible penalties for not filing