The duties imposed on broker-dealers and investment advisers have been fiercely debated in Congress, at the U.S. Treasury Department, and at the U.S. Securities and Exchange Commission. The Dodd-Frank Wall Street Reform and Consumer Protection Act required the SEC to evaluate the standards of...

The scholarship on fiduciary duties in business organizations is often pulled in two directions. While most observers would agree that business organizations are one of the key contexts for the application of the fiduciary obligation, corporate law theorists have often expressed disdain for the...

The importance of investment advisers to the financial well-being of their clients cannot be overstated. Individuals and institutions entrust trillions of dollars to investment advisers to manage on their behalf. This paper discusses and explains fiduciary principles in investment advice....