15 USC 6308 - Conflicts of interest

U.S Code last checked for updates: Nov 22, 2024

§ 6308.

Conflicts of interest

(a)

Regulatory personnel

(b)

Firewall between promoters and managers

(1)

In general

It is unlawful for—

(A)

a promoter to have a direct or indirect financial interest in the management of a boxer; or

(B)

a manager—

(i)

to have a direct or indirect financial interest in the promotion of a boxer; or

(ii)

to be employed by or receive compensation or other benefits from a promoter, except for amounts received as consideration under the manager’s contract with the boxer.

(2)

Exceptions

Paragraph (1)—

(A)

does not prohibit a boxer from acting as his own promoter or manager; and

(B)

only applies to boxers participating in a boxing match of 10 rounds or more.

(c)

Sanctioning organizations

(1)

Prohibition on receipts

(2)

Exceptions

Paragraph (1) does not apply to—

(A)

the receipt of payment by a promoter, boxer, or manager of a sanctioning organization’s published fee for sanctioning a professional boxing match or reasonable expenses in connection therewith if the payment is reported to the responsible boxing commission; or

(B)

the receipt of a gift or benefit of de minimis value.

(Pub. L. 104–272, § 17, formerly § 9, Oct. 9, 1996, 110 Stat. 3311; renumbered § 17 and amended Pub. L. 106–210, §§ 4(1), 5, May 26, 2000, 114 Stat. 322, 325.)

cite as: 15 USC 6308