A conflict of interest Is something which separates integrity from process. But, of course, you need integrity and process and an absence of a conflict to act in your client’s best interests (BI).
So BI = I + P – CI
So if you do not have I you need R (regulation), but process should be a constant and defines direction of BI in most instances. So P is dynamic P*
So BI = I + P* – CI + R