The Office of Government Ethics Calls Trump's Plan to Turn His Businesses Over to His Sons 'Wholly Inadequate'

The independent, nonpartisan agency works with executive branch officials to avoid potential conflicts of interest.
3:00 | 01/11/17

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Transcript for The Office of Government Ethics Calls Trump's Plan to Turn His Businesses Over to His Sons 'Wholly Inadequate'
Now to the trump family business tonight. The president-elect promise a detailed plan for some time now, to address concerns about possible conflicts of interest. How will he separate the family business from the white house? Tonight his plan revealed here, and late today, the nonpartisan government ethics calling it, quote, wholly inadequate. Here's Rebecca Jarvis tonight. Reporter: Within hours of his election night victory, there were demands to know how the president-elect would separate his work from the white house. A week later, this picture. Trump meeting with the Indian developers of two trump towers in their country. A Twitter user posting the picture before taking it down. The trumps sitting down with "60 minutes." Ivanka Trump's company promoting the $10,000 bracelet she wore during the interview. Mr. Trump standing beside boxes of legal paperwork awaiting long plans for the trump name. Not before pointing out he could handle both. I understand. They don't want presidents getting tangled up. They want them to run the count country. I could actually run my business. I could run both at the same time. I don't like the way that looks, but I would be able to do that if I wanted to. Reporter: Today, trump said he will maintain ownership of the trump organization, spanning more than 500 companies in at least 14 countries. Trump says he has relinquished leadership, putting the organization in a trust and turning it over to his sons, don Jr. And ere picic. I hope I'll say, you did a good job. If they do a bad job, I'll say, you're fired. Reporter: Trump also making the point, he turned away billions this weekend. Even the offer to an incoming president highlighting the potential conflicts. I was offered $2 billion to do a deal in dubai with a very, very, very amazing man. A great, great developer from the Middle East. Reporter: But trump says he'll preside over no new deals and his sons will do no new foreign deals as long as their father is the president. Ivanka Trump also stepping down from her business, and plans to relocate her family to Washington. Rebecca Jarvis with us live, and your team reaching out to a number of ethics experts today. What are you hearing? Is this enough? Reporter: David, many believe this plan does not go far enough. The office of government ethics, as you said, calling it wholly ined inadequ inadequate. They believe the plan does not achieve the goal of no conflicts. What about him saying he'll donate the profits from his hotels? Reporter: So many questions about trumps a hotels. Particular the one in Washington, D.C. While he says he is not required to do it, he will donate the profits from foreign governments to the U.S. Treasury.

This transcript has been automatically generated and may not be 100% accurate.

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