fiduciary

One who must act for the benefit of another party. Bloomberg Financial Dictionary

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▪ I. fiduciary fi‧du‧ci‧a‧ry ¹ [fɪˈduːʆiəri ǁ -eri] noun fiduciaries _PLURALFORM

1. [countable] LAW someone who is responsible for the assets of people, organizations etc and, by law, must protect their interests:

• Where corporate information is revealed legitimately to a consultant working for the corporation, they may become fiduciaries of the shareholders.

2. [uncountable] BANKING coins and banks put into circulation (= made available for public use) by a bank, usually a central bank:

• The issue of banknotes is the sole function of the issue department, the notes being fiduciary backed by government securities rather than backed by gold.

  [m0] ▪ II. fiduciary fiduciary ² adjective

LAW involving the relationship of trust that a fiduciary must have with the person or organization whose assets or interests they are responsible for:

• A person in a fiduciary position is not entitled to make a profit or to put himself in a position where his interest and duty conflict.

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Ⅰ.

fiduciary UK US /fɪˈdjuːʃIəri/ US  /-ˈduːʃier-/ adjective LAW

► relating to the responsibilities of a person or organization that manages property or money belonging to another person or organization: fiduciary duties/obligations »

Management and the board of directors have fiduciary obligations which require that reports be produced in a manner consistent with these obligations.

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""They have a fiduciary responsibility to watch the dollars at Chicago State,"" Davis said.

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This case dealt with a managing director who was clearly in a fiduciary position.

Ⅱ.

fiduciary UK US /fɪˈdjuːʃIəri/ US  /-ˈduːʃier-/ noun [C] (plural fiduciaries) LAW

► a person or organization who is responsible for managing money or property for another person or organization: »

A court-appointed fiduciary has managed the trust for five years.