Conflicts of Interest Purpose Identify, disclose, and mitigate conflicts of interest that arise in advisory and brokerage relationships. This is a cross-cutting compliance topic referenced by nearly every other regulatory skill, covering compensation-based conflicts, proprietary product incentives, principal trading, soft dollar arrangements, pay-to-play restrictions, gifts and entertainment limits, personal trading obligations, and the mitigation hierarchy that governs how firms and individuals must address conflicts under both fiduciary and Reg BI standards. Layer 9 — Compliance & Regulator…