15 U.S. Code § 6308 - Conflicts of interest

(a) Regulatory personnel
No member or employee of a boxing commission, no person who administers or enforces State boxing laws, and no member of the Association of Boxing Commissions may belong to, contract with, or receive any compensation from, any person who sanctions, arranges, or promotes professional boxing matches or who otherwise has a financial interest in an active boxer currently registered with a boxer registry. For purposes of this section, the term “compensation” does not include funds held in escrow for payment to another person in connection with a professional boxing match. The prohibition set forth in this section shall not apply to any contract entered into, or any reasonable compensation received, by a boxing commission to supervise a professional boxing match in another State as described in section 6303 of this title.
(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
Except as provided in paragraph (2), no officer or employee of a sanctioning organization may receive any compensation, gift, or benefit, directly or indirectly, from a promoter, boxer, or manager.
(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.

Source

(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.)
Amendments

2000—Pub. L. 106–210, § 5, designated existing provisions as subsec. (a), inserted subsec. heading, and added subsecs. (b) and (c).

 

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