  Recently an extension of the standard model (the Lee-Wick standard model)
based on ideas of Lee and Wick (LW) was introduced. It does not contain
quadratic divergences in the Higgs mass and hence solves the hierarchy puzzle.
The LW-standard model contains new heavy LW-resonances at the TeV scale that
decay to ordinary particles. In this paper we examine in more detail the flavor
structure of the theory. We integrate out the heavy LW-fermions at tree level
and find that this induces flavor changing Z boson couplings. However, these
flavor changing neutral currents are acceptably small since they are
automatically suppressed by small Yukawa couplings. This is the case even
though the theory does not satisfy the principle of minimal flavor violation.
New couplings of the charged W bosons to quarks and leptons are also induced.
We also integrate out the LW-Higgs and examine the four-fermion operators
induced.
