publications_unodc_commentary-e

4.7 A judge shall inform himself or herself about the judge'spersonal and fiduciary financial interests and shall makereasonable efforts to be informed about the financialinterests of members of the judge's family.CommentaryDuty to be aware of financial interests141. If, consequent to his or her decision in a proceeding before the court, itappears that the judge, or a member of the judge’s family, or other person in respectof whom the judge is in a fiduciary relationship, is likely to benefit financially, thejudge has no alternative but to stand down. Therefore, it is necessary that the judgeshould be always aware of his or her personal and fiduciary financial interests aswell as those of his or her family. “Fiduciary” includes such relationships asexecutor, administrator, trustee, and guardian.Financial interest142. “Financial interest” means ownership of a legal or equitable interest,however small, or a relationship as director, advisor, or other active participant inthe affairs of an institution or organization. The following are exceptions:(i)(ii)(iii)(iv)Ownership in a mutual or common investment fund that holdssecurities is not a “financial interest” in securities held by thatorganization;An office in an educational, religious, charitable, fraternal, or civicorganization is not a “financial interest” in securities held by thatorganization;The proprietary interest of a policy holder in a mutual insurancecompany, a depositor in a mutual savings association, or a similarproprietary interest, is a “financial interest” in the organization only ifthe outcome of any proceeding could substantially affect the value ofthe interest;Ownership of government securities is a “financial interest” in theissuer only if the outcome of any proceeding could substantially affectthe value of the securities.98