ABSTRACT
Fiduciary duty is grounded on a relatively stable set of legal principles that have survived for centuries. However, interpretation of fiduciary principles can be quite dynamic. We are again at an inflection point where our understanding and appreciation of fiduciary duty is evolving rapidly. In response to recent financial market, economic and asset management industry changes, fiduciaries are examining the continued appropriateness of norms and beliefs carried over from the twentieth century.
