breach of fiduciary duty

breach of fiduciary duty
breach of fiduciary duty ˌbreach of fiˌduciary ˈduty breaches of fiduciary duty PLURALFORM noun [countable, uncountable] LAW
when a person or company who has responsibility for managing other people's money fails to protect the interests of the people whose money they are managing:

• The company was in breach of fiduciary duty to the songwriters by keeping 75% of their royalties.

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breach of fiduciary duty UK US noun [C or U] (plural breaches of fiduciary duty)
LAW a failure to responsibly manage money that someone else has trusted you to keep safe: »

They were named in a $100 million civil action for breach of fiduciary duty following the bank's failure.


The retirement act gives workers the right to sue employers for breaches of fiduciary duty.

Financial and business terms. 2012.

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