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 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.

The company plans to “voluntarily donate to the U.S. Treasury all profits it receives from foreign government patronage that the company is able to identify at its hotels and si