Open AccessThe Critical Discussion of Fiduciary Duties in Financial Transactions
Author(s) -
Wenjian Jiao,
Yang Jiang
Publication year - 2022
Publication title -
frontiers in business, economics and management
Language(s) - English
Resource type - Journals
ISSN - 2766-824X
DOI - 10.54097/fbem.v3i3.290
Subject(s) - fiduciary , beneficiary , accounting , business , law and economics , finance , focus (optics) , set (abstract data type) , actuarial science , economics , law , political science , computer science , duty , physics , optics , programming language
The fiduciary liabilities and fiduciary duties are a set of opposite concepts. However, in comparison of the former, the latter plays a more important role in financial transactions with its unique value and internal logic. In terms of previous studies, most of them tend to focus on those corresponding obligations that should be undertaken by the parties, including the duties of the trustor and that of the trustee. However, with the development of relevant financial theory and practice, the duties of the beneficiary should also be taken seriously. In future, based on the current situation of imperfection of existing trust regulations, the improvement of relevant internal management and external supervision towards fiduciary institutions should be studied in a further step.