PDF
Word
Form OC-408 Licensed Representative's Full Disclosure of Conflict of Interest to Client - New York
What Is Form OC-408?
This is a legal form that was released by the New York State Workers' Compensation Board - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.
FAQ
Q: What is Form OC-408?
A: Form OC-408 is a document used in New York to disclose any conflict of interest that a licensed representative may have to their client.
Q: What is the purpose of Form OC-408?
A: The purpose of Form OC-408 is to ensure transparency and provide clients with information about any potential conflicts of interest that may arise in the client-representative relationship.
Q: Who needs to fill out Form OC-408?
A: Licensed representatives in New York who have a conflict of interest with their clients need to fill out Form OC-408.
Q: What should be included in the disclosure?
A: The disclosure should include a description of the conflict of interest, the potential impact on the client, and any steps taken to mitigate the conflict.
Q: Is Form OC-408 mandatory?
A: Yes, licensed representatives in New York are required by law to fill out Form OC-408 and provide it to their clients when a conflict of interest exists.
Q: Can clients refuse to work with a representative with a conflict of interest?
A: Yes, clients have the right to refuse to work with a representative who has a conflict of interest.
Q: What happens if a representative fails to disclose a conflict of interest?
A: Failure to disclose a conflict of interest can result in disciplinary action against the representative, including fines and potential loss of their license.
Q: How often should Form OC-408 be updated?
A: Form OC-408 should be updated whenever there is a material change to the conflict of interest or at least annually, as required by the New York Department of Financial Services.
Q: Are there any exemptions to filing Form OC-408?
A: No, all licensed representatives in New York are required to file Form OC-408 if they have a conflict of interest.
Form Details:
- Released on October 1, 2016;
- The latest edition provided by the New York State Workers' Compensation Board;
- Easy to use and ready to print;
- Quick to customize;
- Compatible with most PDF-viewing applications;
- Fill out the form in our online filing application.
Download a fillable version of Form OC-408 by clicking the link below or browse more documents and templates provided by the New York State Workers' Compensation Board.
