From the 2015 Ethics material question #76, the answer states that we DON’T need to disclose compensation we receive to cleints for work on a board (outside of normal job), but that we only need to disclosure fees. Am I to assume because the board seat and duties don’t conflict with the client’s interest as the reason we don’t need to disclose the compensation to clients but only referal fees? What if the compensation we receive from being on the board would change our relationship with our clients? Then would we need to disclose the extra compensations?