Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.
Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!
The recent report released by the Select Committee on New China and the California Institute of Technology’s “California Laboratory of Molecular Biology” (CLMB) raised several questions related to the lab’s financial transparency and possible conflict of interest.
While the committee concluded that the CLMB’s research practices were sound, there were some areas of concern that the committee flagged, including a lack of transparency about its sources of funding and potential dependent relationships between the researchers and Chinese organizations.
The report also raised questions about the CLMB’s commercialization structure, as well as its potential to benefit from state contracts. Additionally, the committee raised the issue of potential improper foreign influence, particularly from Chinese entities, which the CLMB denied.
The committee also noted that the CLMB did not give specific details about its relationship to the Architects & Engineers Association of California, the group which the CLMB claims to have received most of its funding from.
The report concluded that more transparency was needed in the CLMB’s funding and contracts. The committee also recommended that the CLMB be more stringent in its efforts to vet potential staff and subcontractors. Finally, the committee suggested that the CLMB put together a formal code of conduct that outlines what it considers ethical behavior.