His first submission was that a duty to be careful in making statements arose only out of a contractual duty to the plaintiff or a fiduciary relationship to him.
42.
For a comprehensive application of Australian fiduciary law to the Australian financial advice industry see " Fiduciary Relationships in a Commercial Context " by J . C . Campbell.
43.
It is not a lawyer-client matter that is a fiduciary relationship as a matter of law, so trying to prove that on a classwide basis would be kind of impractical.
44.
"It is essential to bear in mind that the existence of a fiduciary relationship does not mean that every duty owed by a fiduciary to the beneficiary is a fiduciary duty.
45.
Rather, the agency's complaint said that Humphries had learned of the Exxon-Mobil talks " as part of his ongoing fiduciary relationship or similar relationship of trust and confidence " with McLarty.
46.
It is extremely troubling that so many of the recent scandals in the mutual fund industry have involved a breach of the fiduciary relationship between investment advisers and their advised funds,
47.
Instead, it created a requirement for some kind of fiduciary relationship, which has sent judges and the Securities and Exchange Commission careening around trying to make up theories to stop outrageous conduct.
48.
But don't just think about your demise, " he said . " Plans need to be put in place because you owe the fiduciary relationship to your employees, vendors, shareholders and customers ."
49.
He said the two men have failed to adhere to the letter and spirit of the agreement by keeping him in the dark about major decisions and ignored their fiduciary relationship to him.
50.
"A mutual fund manager stands in a fiduciary relationship to the investors, and has to make all decisions solely in their best interest, " said Paul Stevens, the general counsel of the institute.
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