Podcast Episode Details

Trust, Money, and the Law: The Fiduciary Standard

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Episode 1255

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What does it actually mean to act in someone else's "best interest"? In this episode, we deep dive into the complex legal world of the fiduciary—a person or entity holding a legal or ethical relationship of trust with another party,. Considered the highest standard of care in equity or law, a fiduciary duty requires undivided loyalty, ensuring that those managing assets act solely for the beneficiary rather than their own self-interest,.

Join us as we explore the strict obligations that keep our financial and corporate systems in check.

In this episode, we cover:

• The Core Duties: We break down the three primary duties—care, loyalty, and good faith—that bind corporate officers and trustees.
• The "No-Profit" Rule: Why fiduciaries are strictly forbidden from profiting from their position or entering conflicts of interest without express consent,.
• Global Variations: How the definition shifts across borders, from Delaware’s corporate influence in the U.S. to Canada’s "tripartite" duty and Australia’s "proscriptive" approach,,.
• Breach and Remedy: What happens when trust is broken? We explain legal remedies like the "constructive trust," where courts seize unconscionable gains to return them to the rightful owner,.
• Modern Challenges: The evolving debate on whether pension trustees must consider ESG (Environmental, Social, and Governance) factors to fulfill their fiduciary obligations in the 21st century.

Whether you are a corporate director, a beneficiary of a trust, or simply an investor, this episode provides the essential roadmap to understanding the legal backbone of trust.

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Published on 1 day, 12 hours ago