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Question
An officer of the Office of the President's Economic Policy Group sits as a member of the Bids and Awards Committee for a national procurement of a cloud-based enterprise resource planning system to be awarded by the Office of the President. He personally owns 55% of CloudNexus Corp., a private firm that submitted a bid for the project. He participates in the BAC’s evaluation and in the final awarding decision to CloudNexus and does not disclose his ownership. (a) Does the officer’s conduct constitute a prohibited financial or pecuniary interest under RA 6713 Sec. 7(b)(2)? (b) Which rule(s) govern this situation, and what is the controlling standard for determining conflict of interest? (c) What are the appropriate consequences and remedies for him and for the appointing authority?