The National Institutes of Health has released the results and observations of its Targeted Site Review program, an initiative to ensure that grant recipient institutions comply with federal regulations on financial conflicts of interest in research. The NIH conducted 18 targeted site reviews in fiscal year 2006, representing approximately $4 billion in grants (or 25 percent of the NIH budget allocated for research grants that year). The NIH then developed the observation document for use by the wider grantee community as a resource for evaluating and improving implementation of the regulations. According to the report, the agency "found no instances of intentional noncompliance. The institutions that participated in the targeted site reviews implemented the federal regulation thoughtfully and with diligence. We found a solid awareness of the importance of compliance... and... mature, effective [financial conflict of interest] programs." The two most common compliance issues identified by the NIH were the appropriate definition of "investigator," with respect to coverage by the regulation, and lapses in meeting institutional reporting requirements to the agency. For more information, please visit http://grants.nih.gov/grants/policy/coi/index.htm.