Each member of the residential mortgage board shall file annually, no later than February first, with the Missouri ethics commission a statement of the member’s current business transactions or other affiliations with any residential mortgage loan broker under the provisions of sections 443.701 to 443.893 or such report as the Missouri ethics commission otherwise directs. The board may adopt any rules or regulations regarding the conduct of board members to avoid conflicts of interest on the part of the members of the residential mortgage board in connection with their positions on the board.