Oversight Board Launches New Ethics Website

OVERSIGHT BOARD LAUNCHES NEW ETHICS WEBSITE

New site already contains scores of Board governance documents, Members’ quarterly and annual financial reports and other resources

(San Juan, PR – June 21, 2019) – The Financial Oversight and Management Board for Puerto Rico (the “Oversight Board”) today announced the launching of its new Ethics Website, an Internet-based tool to promote transparency and ethics in the Board’s day-to day operations. The site contains scores of Board governance documents, Members’ Quarterly Periodic Transaction Reports and Annual Financial Disclosure Reports, an interactive Ethics Advisor Blog and other resources to guide visitors through the Board’s ethics and good governance policies and actions.

The website’s Financial Disclosure page already includes the full set of 2018 Annual Financial Reports and Q1 2019 Periodic Transaction Reports for all board Members and designated executive staff.

The standalone Ethics Webpage, may be accessed directly at www.oversightboard.pr.gov/ethics/ or through the Board’s main web address at www.oversightboard.pr.gov. The page is available since yesterday, June 20th.

“The FOMB and its executive staff, together with its Ethics Advisor, have created this standalone Ethics Webpage on the Oversight Board website for two purposes. First, we wanted to continue to promote the importance of transparency and ethics in the work that we do every day for all our stakeholders, including, most importantly, the people of Puerto Rico. And, second, we wanted to provide an interactive tool to share important documents, developments, resources and media to promote ethics and integrity in everyday life, business and policy,” said the Oversight Board’s Executive Director, Natalie Jaresko.

“One of the first actions we took as a Board back in late 2016 was the adoption of Bylaws containing key elements of a robust ethical stance by the Board, including the adoption of self-imposed financial reporting requirements for Board members and senior executive staff above and beyond any requirement set forth in PROMESA. In the Bylaws, we also voluntarily created and adopted the role of an independent Ethics Advisor and adopted an Oversight Board Code of Conduct. We are very proud of the Board’s track record of commitment to the highest standard of ethics, transparency and good governance during our two and a half years of operations. That record hits a new milestone with the inauguration of this Oversight Board standalone Ethics Webpage,” said Board Chair José B. Carrión.

“In our role of assisting the Board and staff with financial disclosure, conflicts of interest, code of conduct and related ethics issues that may arise from time to time, we welcome the addition of this new tool. We encourage all of our stakeholders to take advantage of the resources on this page and to submit questions through the Ethics Advisor Blog where we will periodically post developments relating to ethics issues,” concluded the Board’s independent Ethics Advisor Andrea Bonime-Blanc.