The Trump Organization is proposing to restrict the president-elect's role under a new ethics plan.

• The Trump Organization presented a new ethics plan that aims to restrict President-elect Donald Trump's role in business management and other matters while he is in office.

On Friday, the Trump Organization presented a new ethics plan that aims to restrict President-elect Donald Trump's role in the company's management decisions and other related matters during his time in the White House.

According to a five-page white paper on the ethics plan shared with CNBC, Trump will have "limited access" to the company's financial information and will receive only "general business updates."

The incoming president's investments will be placed in a trust managed by his children, but outside financial institutions will control the trust and make decisions about specific holdings and transactions without his input.

The Trump Organization stated that it will not engage in any new business deals or agreements with foreign governments, except for routine transactions.

The white paper does not mention if the company can conduct new business with private foreign entities.

The Trump Organization announced that it will donate profits from foreign governments at its hotels and businesses to the U.S. Treasury, as it did during Trump's first term.

Eric Trump, The Trump Organization's executive vice president, stated in a separate press release that the organization is committed to going above and beyond its legal and ethical responsibilities during his father's presidency.

The company appointed attorney William Burck as its new outside ethics advisor, in addition to its announcement.

Burck, the global co-chair of law firm Quinn Emmanuel LLP, stated in a press release that it is an honor and privilege to work with such a great company during this unprecedented and pivotal chapter in its distinguished and storied history.

The Wall Street Journal first reported the Trump Organization's new policies.

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