(redirected from fiduciaries)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia.
Related to fiduciaries: trustee

fiduciary (fidoo´shēerē),

n a person who has a duty to act primarily for another's benefit, as a trustee. Also, pertaining to the good faith and confidence involved in such a relationship.
References in periodicals archive ?
401(k) plan service providers are not fiduciaries with respect to their client plans and thus may conceal sources of compensation and engage in conflicts, thereby inflating fees.
While fiduciary norms furnish beneficiaries who entrust others within fiduciary interactions with the means to protect or abuse their interests, the fiduciaries entrusted by the beneficiaries are furnished with significant disincentives to abuse that trust.
This time, the agency took a more conservative approach and required plan fiduciaries to vote proxies only if they concluded that the vote would more likely than not result in an increase in the plan's investment relative to the expenses incurred in taking the action.
The three specific types of prohibited transactions for fiduciaries are:
Most fiduciaries are engaged in the provision of fiduciary services for or on behalf of a beneficiary or group of beneficiaries.
First, a Fiduciary Program employee can terminate fiduciaries who misuse funds or fail to follow Fiduciary Program rules and appoint a successor fiduciary at any time.
Part II discusses the problem of fit between private fiduciaries and public officials.
The NCC limits the fiduciaries to two categories (the enumeration of the NCC is limitative, in conclusion no other person or institution may become fiduciary): credit institutions, investment companies, financial investment services companies, insurance and reinsurance companies; lawyers and public notaries.
Congress, VA's Office of Inspector General (OIG) and GAO have noted that VA does not always have, or adhere to, effective policies for selecting and monitoring fiduciaries and therefore, does not fully safeguard the assets of beneficiaries in the Fiduciary Program.
Attorneys, accountants, trust officers, physicians, registered investment advisers, trustees who manage money, and company directors and officers are all fiduciaries.
It is important to determine who the fiduciaries are of any employee benefit plan covered by ERISA because parties who are considered fiduciaries with respect to the plan have specified duties and responsibilities, must conduct plan business under established standards of care, and are prohibited from engaging or causing the plan to engage in certain transactions under ERISA.
If the overall economic impact on investment returns isn't enough to make plaintiff attorneys cheer, regulatory and legal changes have also helped land today's fiduciaries in the hot seat.