Fiduciary Duty
What is Fiduciary Duty?
The legal obligation to act in the best interest of another party, applicable to board members and officers regarding organizational governance.
Frameworks that govern fiduciary duty
What the standards actually require on fiduciary duty
Requirements naming fiduciary duty across this standard, quoted from the control text.
Release IA-5248 (effective 12 July 2019) restates the Commission's reading of section 206: an adviser is a fiduciary; it owes care and loyalty, and the two together require it to serve the client's best interest and never subordinate the client's interest to i...
us-investment-advisers-act-of-1940-and-sec-adviser-rules-17-cfr-part-275::ia5248-scope · Apply the fiduciary duty across the whole relationship as the scope agreed with the client defines it, with disclosure of any limits →Questions people ask about fiduciary duty
What is Fiduciary Duty?
The legal obligation to act in the best interest of another party, applicable to board members and officers regarding organizational governance.
Why is Fiduciary Duty important for compliance?
Fiduciary Duty is a key concept in Governance. Understanding fiduciary duty helps organizations meet regulatory requirements, reduce risk, and demonstrate due diligence during audits. Our compliance platform maps 1,016 frameworks with 316K cross-framework control mappings.
Which compliance frameworks address Fiduciary Duty?
Fiduciary Duty appears in the requirement text of US Investment Advisers Act of 1940 and SEC Adviser Rules (17 CFR Part 275). Across these standards we have identified 1 control that names it directly, each linked to the control text on the compliance platform.
Where can I learn more about Fiduciary Duty?
Explore our compliance framework pages to see how fiduciary duty applies across different standards and regulations. Our implementation guides provide step-by-step guidance, and the compliance platform offers AI-powered analysis of how this concept maps across 1,016 frameworks.
See how Fiduciary Duty applies across compliance frameworks
Our platform maps 1,016 frameworks with 316K cross-framework control mappings. Explore how this concept is addressed across standards.
Written and maintained by Gerard Blokdyk, The Art of Service.