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A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other asset for another person. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has entrusted funds to the fiduciary for safekeeping or investment. Likewise, asset managers —including managers of pension plans, endowments and other tax-exempt assets— are considered fiduciaries under applicable statutes and laws.〔Lemke and Lins, ''ERISA for Money Managers'', Chapter 1 (Thomson West, 2013)〕 In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance, and trust in another whose aid, advice or protection is sought in some matter.;〔("''Hospital Products Ltd v United States Surgical Corporation'' (1984) 156 CLR 41, 68" ) ; see also Breen v Williams (1996) 186 CLR 71 (AustLII ) 〕 In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts. A fiduciary duty〔(Breach of Fiduciary Duty Law & Legal Definition. ) Legal Definitions Legal Terms Dictionary.〕 is the highest standard of care at either equity or law. A fiduciary (abbreviation ''fid'') is expected to be extremely loyal to the person to whom he owes the duty (the "principal"): such that there must be no conflict of duty between fiduciary and principal, and the fiduciary must not profit from his position as a fiduciary〔''Keech v Sanford'' () EWHC Ch J76 ()〕(unless the principal consents).〔("Queensland Mines Ltd v Hudson (1978) 52 ALJR 399 )〕 In English common law, the fiduciary relation is an important concept within a part of the legal system known as equity. In the United Kingdom, the Judicature Acts merged the courts of equity (historically based in England's Court of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became applicable in common law courts. When a fiduciary duty is imposed, equity requires a different, stricter, standard of behavior than the comparable tortious duty of care at common law. The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where his fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from his fiduciary position without knowledge and consent. A fiduciary ideally would not have a conflict of interest. It has been said that fiduciaries must conduct themselves "at a level higher than that trodden by the crowd"〔''Meinhard v Salmon'' (1928) 164 NE 545 at 546〕 and that "()he distinguishing or overriding duty of a fiduciary is the obligation of undivided loyalty". ==In different jurisdictions== Different jurisdictions regard fiduciary duties in different lights. Canadian law, for example, has developed a more expansive view of fiduciary obligation than American law,〔 〕 while Australian law and British law have developed more conservative approaches than either the United States or Canada.〔(【引用サイトリンク】) HCA 57">url=http://www.austlii.edu.au/cgi-bin/sinodisp/au/cases/cth/HCA/1996/57.html?stem=0&synonyms=0&query=title%28Breen%20and%20Williams%20%29 )〕 In 2014 the Law Commission (England and Wales) reviewed the fiduciary duties of investment intermediaries, looking particularly at the duties on pension trustees. They commented that the term "fiduciary" is used in many different ways. The question of who is a fiduciary is a "notoriously intractable" question and this was the first of many questions. In ''SEC v. Chenery Corporation'',〔''SEC v. Chenery Corporation'', 〕 Frankfurter J said, 抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』 ■ウィキペディアで「fiduciary」の詳細全文を読む スポンサード リンク
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