31.201—Definitions.
As used in this part:
Arrangement means a contract or
financial agency agreement between a private
sector entity and the Treasury for services under
the TARP, other than administrative services
identified by the TARP Chief Compliance
Officer.
EESA means the Emergency Economic
Stabilization Act of 2008.
Key individual means an individual
providing services to a private sector entity who
participates personally and substantially, through
decision, approval, disapproval, recommendation,
or the rendering of advice, in the negotiation or
performance of, or monitoring for compliance
under, the arrangement with the Treasury. For
purposes of the definition of key individual, the
words “personally and substantially” shall have
the same meaning and interpretation as such words
have in 5 CFR 2635.402(b)(4).
Management official means an
individual within a retained entity's organization
who has substantial responsibility for the
direction and control of the retained entity's
policies and operations. With respect to
organizations that have a management committee or
executive committee that has been given such
responsibilities, this means the members of those
committees and, if no such committee exists, this
means each of the general partners.
Organizational conflict of interest
means a situation in which the retained entity has
an interest or relationship that could cause a
reasonable person with knowledge of the relevant
facts to question the retained entity's
objectivity or judgment to perform under the
arrangement, or its ability to represent the
Treasury. Without limiting the scope of this
definition, organizational conflicts of interest
may include the following situations:
(1)
A prior or current arrangement between the
Treasury and the retained entity that may give the
retained entity an unfair competitive advantage in
obtaining a new arrangement with Treasury.
(2)
The retained entity is, or represents, a
party in litigation against the Treasury relating
to activities under the EESA.
(3)
The retained entity provides services for
Treasury relating to the acquisition, valuation,
disposition, or management of troubled assets at
the same time it provides those services for
itself or others.
(4)
The retained entity gains, or stands to
gain, an unfair competitive advantage in private
business arrangements or investments by using
information provided under an arrangement or
obtained or developed pursuant to an arrangement
with Treasury.
(5)
The retained entity is a potential
candidate for relief under EESA, is currently
participating in an EESA program, or has a
financial interest that could be affected by its
performance of the arrangement.
Personal conflict of interest means
a personal, business, or financial interest of an
individual, his or her spouse, minor child, or
other family member with whom the individual has a
close personal relationship, that could adversely
affect the individual's ability to perform under
the arrangement, his or her objectivity or
judgment in such performance, or his or her
ability to represent the interests of the
Treasury;
Related entity means the parent
company and subsidiaries of a retained entity, any
entity holding a controlling interest in the
retained entity, and any entity in which the
retained entity holds a controlling interest.
Retained entity means the individual
or entity seeking an arrangement with the Treasury
or having such an arrangement with the Treasury,
but does not include special government employees.
A “retained entity” includes the subcontractors
and consultants it hires to perform services under
the arrangement.
Special government employee means
any employee serving the Treasury with or without
compensation for a period not to exceed 130 days
during any 365-day period on a full-time or
intermittent basis.
Treasury means the United States
Department of the Treasury.
Treasury employee means an officer
or employee of the Treasury, including a special
government employee, or an employee of any other
government agency who is properly acting on behalf
of the Treasury.
Troubled assets means residential or
commercial mortgages and any securities,
obligations, or other instruments that are based
on or related to such mortgages, that in each case
originated or was issued on or before March 14,
2008; and any other financial instrument that the
Secretary of the Treasury has determined, upon
transmittal in writing to the appropriate
committees of Congress, the purchase of which is
necessary to promote financial market
stability.