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“How to Restore the Fiduciary Relationship, a Conversation with Eliot Spitzer

In: Business and Management

Submitted By brazov
Words 284
Pages 2
TN: “How to Restore the Fiduciary Relationship, a conversation with Eliot Spitzer”

1/What does the term “fiduciary duty” mean?

RELATIONSHIP TRUST INTERESTS
A fiduciary is someone who has undertaken to act for and on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence.
—Bristol & West Builg Society v Mothew [1998] Ch 1 at 18 per , Lord Millett
The term fiduciary duty in economics it’s referred to the written or unwritten duty that the fiduciary have towards their clients or shareholder. This relationship it’s based on the trust that clients/shareholder have in the Management or in the financial institution; besides these are delegated to satisfy the interests and the needs of client/shareholder, without taking advantage from their position ( potential conflict of interests).

Cite; and explain
The fiduciary duty it’s the relationship that exist between shareholders and top management, and between clients and financial institution (i.e. Mutual funds). The relationship it’s based on the confidence/trust that the clients or the shareholder have in the top management or the financial institutions; besides, these are delegated to satisfy the interest of the shareholder/client and not to take advantages of the their powerful position.

2/Who is Eliot Spitzer and what is he best known for?

Eliot Spritzer was the general attorney of the New York State. He became famous attachments

3/ List at least 5 of the issues that Eliot Spitzer identifies behind the spate of scandals



4/ Eliot Spitzer , with the global settlement, added regulatory burdens on investment banks. What are the main regulation changes after the 2007/2008 financial crisis?

Dood-frank
Volker rule
Basel iii(implementation)
MiFid (implementation)

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