Sentences with phrase «of fiduciary principles»
The Frankel Fiduciary Prize was established to acknowledge individuals who have made significant contributions to the preservation and advancement of fiduciary principles in public life.
http://www.thefiduciaryinstitute.org/ Not exact matches
'» Yet, he said, «the reality of the U.S. investment system is that it has rarely been dominated by» the fiduciary principle.
Reading more of the ICI findings, it is fairly apparent why the rule seeks to over-regulate annuity advisors who are subject to the rules - based and highly regulated suitability standard while under - regulating fee - only advisors by holding them to a subjective, principles based fiduciary standard: to pander to the employer - sponsored plan providers and keep money from rolling over.
As «Pioneering Fiduciaries,» we have a commitment to objective advice, annual outside audits of our practices, principled refusal to sell proprietary products — and continuous self - examination.
The now - endangered fiduciary rule is based on a simple — and seemingly unarguable — principle: that in giving advice to clients with retirement funds, stockbrokers, registered investment advisers and insurance agents must act in the best interests of their clients... It simply doesn't seem like a good business practice for Wall Street to tell its client - investors, «We put your interests second, after our firm's, but it's close.»
While the new DOL rules are principles based and do not provide discreet instructions as to what advisors should do to fulfill fiduciary duties, industry executive David Trainer said advisors can not lose with clients or regulators by incorporating research into their practice that is «inarguably in the best interest of clients.»
This is a curious remark as the principle - based fiduciary standard has been articulated through seventy years of court cases and SEC opinions — as a principle - based standard.
If that wasn't enough, the National Association of Insurance Commissioners formed a working group to examine the possibility of state regulators using key principles of the DOL fiduciary rule for annuity sales.
This principle means, of course, a «one size fits all» disclosure regime is suspect on its face of fiduciary breach for the simple reason that all clients are not equal in their investing knowledge.
Rhoades, for example, quotes the NASD (now FINRA), as saying «essentially a broker, or agent, is a fiduciary, and he thus stands in a position of trust and confidence with respect to his customer or principle.»
Bogle points to free - market luminary Adam Smith for «endorsing, not only the power of the consumer, but the principle of fiduciary duty.»
In addition, the court... [noted] that claims made by Lampack that the contract placed a fiduciary duty on Grimes» -LCB- are -RCB- unsupported by case law and the general principles of agency law that the obligations that a principal owes an agent are not fiduciary.»
[81] The duty of lawyers to avoid conflicting interests is at the heart of both the general legal framework defining the fiduciary duties of lawyers to their clients and of the ethical principles governing lawyers» professional conduct.
Moreover, just weeks after St. Simons and RFF were decided, the ABA House of Delegates passed a resolution urging all «federal, state, tribal, territorial and local legislative, judicial and other governmental bodies» to support applying the attorney - client privilege to protect from disclosure «confidential communications between law firm personnel and their firms» designated in - house counsel made for the purpose of the rendition of professional legal services to the law firm» and to reject any claim that conflict of interest principles or the «fiduciary exception» undermine that claim of privilege.
This application of the principle of fiduciary relationship only at the time of negotiating premarital or separation agreements creates, as noted above, a dual system of obligations, one during the marriage, and one outside the marriage.
Mr. Fitzpatrick has considerable experience in all manners of complex business disputes and has successfully represented individuals and public, private, and closely held corporations in many multimillion - dollar disputes, including matters that established important principles of law, particularly in the area of corporate fiduciary duties.
This general principle has strong conceptual differences from the much higher obligations of a fiduciary.
The Court of Appeal for Ontario has succinctly summarized these principles for employers as follows: «[i] n the employment context, an employee may therefore be said to owe a fiduciary duty to his or her employer where the employee has discretionary power to affect adversely the employer's interests and the employer is vulnerable to the exercise of that power».
It is Peter's experience that a good understanding of trust and fiduciary principles is of increasing importance in the litigation of claims against professionals, particularly solicitors and others who handle money.
[ii] The «substantial risk» principle is the traditional fiduciary law sometimes called «conflict of duty with duty» and «conflict of interest with duty».
[114] Both counsel for the parties provided me with an overview of the principles of law governing fiduciary duty.
The appeal judge found that the arbitrator erred by failing to apply the principles that inform the remedies for breach of fiduciary duty when deciding on entitlement to bonus money.
Confirming the principle found in Canadian Aero Service Ltd. v. O'Malley, that «bonuses are included in the forms of compensation a wrongdoing fiduciary is not entitled to be paid during the period of their wrongdoing.»
In going on to set the scope of the bright line rule and the substantial risk principle, however, the Court does not make any further mention of the fiduciary obligations of the lawyer.
Members» understanding of trust and fiduciary principles is of increasing importance in the litigation of claims against professionals, particularly those who handle client money.
The claims included breach of fiduciary duty, battery, negligence and contravention of common law principles and international law norms relating to the use of torture and cruel, inhumane or degrading treatment and punishment.
Expanding on these principles, the Court referred to other cases involving the obligations of a fiduciary when transacting with its own clients.