Resolution Trust Corporation:

Monitoring RTC's Fitness and Integrity Policies for Independent Contractors

GGD-91-134BR: Published: Sep 25, 1991. Publicly Released: Oct 4, 1991.

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Pursuant to a congressional request, GAO reviewed the Resolution Trust Corporation's (RTC) administration of ethics and conflict-of-interest policies as they relate to independent contractors.

GAO found that: (1) the Contractors' Conflicts Committee, along with the various RTC program ethics offices, has begun to establish operational guidelines by using a case law approach to determine fitness and integrity issues as they apply to independent contractors; (2) about 67 percent of the contractors the Committee interviewed have been registered under discretionary authority; (3) procedures have been established, but not finalized, for the suspension and exclusion of contractors that do not meet minimum standards of fitness and integrity; (4) one contractor's awards were rescinded and the contractor was excluded from providing services to RTC because it failed to meet the minimum required standards; (5) RTC has not published and made available to the public all cases that have been decided, thereby creating a backlog of issued decisions; and (6) RTC is revising the procedures used to assess fitness and integrity issues before a contract is awarded, but still needs to formalize these screening policies and procedures.

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