If I want to sell some products to some people do I have any fiduciary responsibilities towards the buyers? Or is the duty only required when there is a principal agent relationship?
Direct Quotation from Standard of Practice handbook:
"Members and candidates must also understand
and adhere to any legally imposed fiduciary responsibility they assume
with each client. Fiduciary duties are often imposed by law or regulation when
an individual or institution is charged with the duty of acting for the benefit
of another party, such as managing investment assets. The duty required in
fiduciary relationships exceeds what is acceptable in many other business
relationships because a fiduciary is in an enhanced position of trust."
I think fiduciary duty may apply in this case to look for best execution. but its more a legal relation.
You would have a fiduciary responsibility to the client only, which in this case would be yourself. you can't have a fiduciary responsibility to both the client and the other side of the transaction, that would cause a conflict of interest. You would then need to disclose the conflict, and who would use you as their broker if they knew you had a fiduciary responsibility to the other side?
发表于 2011-7-13 16:41
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