15 U.S.C. § 6308 | Conflicts of interest

(a)

Regulatory personnel

section 6303 of this titleNo member or employee of a boxing commission, no person who administers or enforces State boxing laws, and no member of the Association of Boxing Commissions may belong to, contract with, or receive any compensation from, any person who sanctions, arranges, or promotes professional boxing matches or who otherwise has a financial interest in an active boxer currently registered with a boxer registry. For purposes of this section, the term “compensation” does not include funds held in escrow for payment to another person in connection with a professional boxing match. The prohibition set forth in this section shall not apply to any contract entered into, or any reasonable compensation received, by a boxing commission to supervise a professional boxing match in another State as described in .

(b)

Firewall between promoters and managers

(1)

In general

It is unlawful for—

(A)

a promoter to have a direct or indirect financial interest in the management of a boxer; or

(B)

a manager—

(i)

to have a direct or indirect financial interest in the promotion of a boxer; or

(ii)

to be employed by or receive compensation or other benefits from a promoter, except for amounts received as consideration under the manager’s contract with the boxer.

(2)

Exceptions

Paragraph (1)—

(A)

does not prohibit a boxer from acting as his own promoter or manager; and

(B)

only applies to boxers participating in a boxing match of 10 rounds or more.

(c)

Sanctioning organizations

(1)

Prohibition on receipts

Except as provided in paragraph (2), no officer or employee of a sanctioning organization may receive any compensation, gift, or benefit, directly or indirectly, from a promoter, boxer, or manager.

(2)

Exceptions

Paragraph (1) does not apply to—

(A)

the receipt of payment by a promoter, boxer, or manager of a sanctioning organization’s published fee for sanctioning a professional boxing match or reasonable expenses in connection therewith if the payment is reported to the responsible boxing commission; or

(B)

the receipt of a gift or benefit of de minimis value.

Pub. L. 104–272, § 17Oct. 9, 1996110 Stat. 3311 Pub. L. 106–210May 26, 2000114 Stat. 322 (, formerly § 9, , ; renumbered § 17 and amended , §§ 4(1), 5, , , 325.)

Editorial Notes

Amendments

Pub. L. 106–210, § 52000—, designated existing provisions as subsec. (a), inserted subsec. heading, and added subsecs. (b) and (c).

Statutory Notes and Related Subsidiaries

Effective Date

July 1, 1997July 1, 1998Pub. L. 104–272 section 6301 of this titleSection effective , and not applicable to an otherwise authorized boxing commission in the Commonwealth of Virginia until , see section 23(1), (2) of , set out as a note under .