much of investment management regulation is a response by regulators to the uncertainty inherent in the fiduciary … regulation serves to explicate what the fiduciary obligation entails. Rules prepared by regulators governing the investment …Investment managers owe fiduciary duties to clients, including the duty of loyalty and the duty of care. A persistent …

regulation provides a theoretical account of Delaware’s recent experience with LLC fiduciary duties …This essay, a forthcoming book chapter, examines the recent flux in Delaware LLC fiduciary law (and lawmaking) through … to whether default duties apply to LLCs can be understood as an instance of dynamic regulation in a common law setting …

directors' responsibilities but has not reconciled those responsibilities with board functions and fiduciary law, at least in …

Recent regulatory debate in the financial advice industry has focused on expanding fiduciary duties to broker … detractors counter that such regulation would increase compliance costs without directly improving consumer outcomes. This paper … provider and exploiting state-level variation in common law fiduciary duty. We find that imposing fiduciary duty on broker …

Fiduciary duty aims to solve principal-agent problems, and the United States is in the middle of a protracted debate … state-level variation in common law fiduciary duty, we find that it raises risk-adjusted returns by 25 bp. Through the lens …, and counterfactual simulations suggest that further increases in the stringency of fiduciary duty, such as a federal …

regulation can be conceptualized as governing distinctive and non-overlapping spheres: Fiduciary duties police private activity … financial regulation. In many regulatory contexts, fiduciary duties arise as a complement to, or sometimes substitute for, other … mechanisms of financial regulation. Moreover, the interactions between fiduciary duties and systems of financial regulation …

Fiduciary duty may combat principal-agent problems in the provision of financial advice, but it may also impose costs … through legal liability. We study the effects of fiduciary duty on the deferred annuity market using transaction-level data …. Leveraging state-level variation in common law fiduciary duty, we find that it raises risk-adjusted returns by 25 bp without …