fiduciary

Examples of fiduciary in the following topics:

• Managers Role in Ethical Conduct

  • Fiduciary duty is an example that applies to some managerial roles.
  • A fiduciary must put the interests of those to whom he is accountable ahead of any interests, and must not profit from his position as a fiduciary unless the principal consents.

• The Definition of Money

  • Money comes in three forms: commodity money, fiat money, and fiduciary money.
  • Fiduciary money includes demand deposits (such as checking accounts) of banks.
  • Fiduciary money is accepted on the basis of the trust its issuer (the bank) commands.

• Employee Retirement Income Security Act

  • Sets minimum standards for participation, vesting, benefit accrual, and funding. provides fiduciary responsibilities for those who manage and control plan assets.
  • Gives participants the right to sue for benefits and breaches of fiduciary duty

• Ethical Considerations

  • If a company's purpose is to maximize shareholder returns, then sacrificing profits to other concerns is a violation of its fiduciary responsibility.
  • Ethical issues include the rights and duties between a company and its employees, suppliers, customers and neighbors, and the company's fiduciary responsibility to its shareholders.

• Banking Crises and Centralized Reserve Enforcements

  • Generally, the Federal Reserve takes formal enforcement actions against the above entities for violations of laws, rules, or regulations, unsafe or unsound practices, breaches of fiduciary duty, and violations of final orders.

• Medical Imaging

  • Fiduciary markers are used in a wide range of medical imaging applications.
  • Images of the same subject produced with two different imaging systems may be correlated (called image registration) by placing a fiduciary marker in the area imaged by both systems.

• Corporate Social Responsibility

  • The law says corporations have a fiduciary responsibility (fiduciary = the highest standard of loyalty and trust owed by agents to principles) to their shareholders, who are the legal owners of the corporation.

• Nonprofit Organizations (NPOs)

  • Both not-for-profit and for-profit corporate entities must have board members, steering committee members, or trustees who owe the organization a fiduciary duty of loyalty and trust.

• Landrum-Griffin Act

  • Declare that every union officer must act as a fiduciary in handling the assets and conducting the affairs of the union.

• Profit and Stakeholders

  • In the traditional view of the firm, the stockholders are the owners of the company, and the firm has a binding fiduciary duty to put their needs first and to increase value.