The Trump Organization on Friday announced that President-elect Donald Trump will be walled off from the day-to-day management of his privately held company. Unlike in 2017, Trump's company is not agreeing to a blanket stop on new foreign business transactions.

The Trump Organization on Friday announced that President-elect Donald Trump will not have any involvement in managing his real-estate and branding empire during his second term and appointed an outside ethics adviser to monitor major company actions – part of several measures the organization said it was taking to avoid conflicts of interest as Trump prepares to return to the White House later this month.

The Trump family business has agreed to a voluntary ethics agreement that would ban it from striking direct deals with foreign governments after inauguration, but would give it a free hand to pursue ventures with private foreign companies.

The plan bans new deals between the Trump Organization and foreign governments − but not foreign businesses, as had been the case in the first Trump administration. It also outlines a review process for several transactions that meet a certain threshold like purchases over $10 million or leasing more than 40,000 square feet of real estate space.

Donald Trump’s controversial family business was dogged by ethics questions during his first term. Those questions are multiplying now.

U.S. President-elect Donald Trump's company said Friday it has retained William Burck, a managing partner of U.S. trial firm Quinn Emanuel Urquhart & Sullivan and longtime Republican insider, as its outside ethics advisor.

Trump's company says it won't strike direct deals with foreign governments after inauguration, but can make deals with private foreign companies.

The Trump Organization submitted an ethics plan for Donald J. Trump’s second presidential term that doesn’t rule out striking new deals with foreign companies — a break with its approach to managing conflicts of interest when he first took office.