I worked for several years as head of finance for the UK subsidiary of a US corporate. As part of a global restructuring process my role was made redundant, with my responsibilities shifting to the US.

An ex-colleague of mine from this firm has suggested putting together a bid for the UK business, which may be more successful if managed separately.

Although I am interested in getting involved in the bid, I would be doing so as an ex-director of the company with inside knowledge of the finances.

I am not sure where I should draw the line as I will be expected to draw up financial models and projections. In this situation, the principle of confidentiality (using information acquired through employment for personal gain as set out in Section 140 of CIMA’s Code of Ethics) poses a threat (as defined by Section 100.12 of the Code).

Our response: To remove the threat, you could consider involving someone else to prepare the financial part of the bid, or preferably not be involved in the bidding process at all.

You could limit your role to being named as potential head of finance in the proposed venture and have your former role and status declared. It would be challenging to “unknow” what you “know”, so there would be many risks to your overall integrity.

It is also advisable to document decisions in writing with your ex-colleague as the process develops in order to avoid the implication that you have provided any confidential information during the formulation of the bid.

For more information, visit www.cimaglobal.com/ethics