68. Are elected officials required to submit reports regarding their finances?

2. The House requires new Members, within one month of their election, to register all their current financial interests, and any registrable benefits (other than earnings) received in the 12 months before their election. After that, Members are required to register within 28 days any change in those registrable interests. Such a change includes both the acquisition of a new interest and the ceasing of any registered interest, for example because an employment has ceased or because a holding has reduced in value or been sold.   Members shall fulfil conscientiously the requirements of the House in respect of the registration of interests in the Register of Members’ Financial Interests. They shall always be open and frank in drawing attention to any relevant interest in any proceeding of the House or its Committees, and in any communications with Ministers, Members, public officials or public office holders.                                                                    

5. The overall aim of both registration and declaration is to provide information about any financial interest which might reasonably be thought by others to influence a Member’s actions, speeches or votes in Parliament, or actions taken in his or her capacity as a  Member of Parliament.6 Financial interests include material benefits and payments in kind.7 Each Member is responsible for making a full disclosure of such interests, which is achieved by registering and declaring them in accordance with the requirements of the House. The aim of this is openness. Neither registration nor declaration imply any wrongdoing."                                               

13. Members shall fulfil conscientiously the requirements of the House in respect of the registration of interests in the Register of Members’ Financial Interests. They shall always be open and frank in drawing attention to any relevant interest in any proceeding of the House or its Committees, and in any communications with Ministers, Members, public officials or public office holders. Source:  Paragraph 2, 5, 13, House of Commons, The Code of Conduct & The Guide to the Rules relating to the Conduct of Members, Approved by the House of Commons, 2017                                                                                                                                                                                                       

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