fiduciary
/fɪˈdjuːʃ(ə)ri
/adjective
1 Law Involving trust, especially with regard to the relationship between a trustee and a beneficiary: the company has a fiduciary duty to shareholders...
- No prudent investor would overweight his or her portfolio in speculative stock, given that the funds belong to an Estate, to whom the investor owes a fiduciary duty.
- Nor, given the fiduciary duty of the Trustee, is there any reason to imply any such limitation.
- In fact, this is a demanding standard, since the beneficiaries of the fiduciary duty must give their fully informed consent.
1.1 archaic Held or given in trust: fiduciary estates...
- The fiduciary estate is distinct from the fiduciary's personal wealth.
- Drilling two new wells on the Fiduciary land can provide a short-term solution to the city's water problems.
2 Finance (Of a paper currency) depending for its value on securities (as opposed to gold) or the reputation of the issuer.However, even with the existence of a central bank that guarantees their solvency, it is not in the interest of the fractional reserve banks to issue fiduciary media as quickly as possible....
- Furthermore, this tendency is now strengthened by the decrease in the objective exchanged value of money following the increase of fiduciary media issued by the banking system.
- A second contradiction is related to another limit on the circulation of fiduciary media mentioned by Wicksell, the limit set by the use of precious metals for industrial purposes.
noun (plural fiduciaries)
A trustee.Executors or trustees are fiduciaries - agents legally responsible for managing property for the benefit of another individual or a group....
- Equity, which imposed obligations on trustees and fiduciaries, was always a separate entity.
- This ensures that trustees and fiduciaries are financially disinterested in carrying out their duties.
Origin
Late 16th century (in the sense 'something inspiring trust; credentials'): from Latin fiduciarius, from fiducia 'trust', from fidere 'to trust'.