What type of interests are public officials and employees prohibited from having in transactions requiring their office's approval?

Public officials and employees are prohibited from having financial and material interests in transactions requiring the approval of their office to prevent any potential conflict of interest and to ensure that their decision-making is based on the public's interest rather than personal gain. Financial interests include any economic benefits that the official or employee might receive, whereas material interests encompass any non-monetary benefits that could affect their impartiality or judgment in performing their duties.

This prohibition is rooted in the desire to maintain the integrity of public service and to foster trust in governmental processes. By disallowing such interests, the law aims to eliminate any situation where a public official might be caught in a predicament where their personal financial or material gain could influence their professional responsibilities.

It is important to differentiate this from legal, personal, and business interests. While these interests can influence behavior, the specific concern addressed by the Code of Conduct is with those interests that are inherently financial or material in nature, as these pose a direct risk to the ethical standards expected in public service.