Word of the Day

Sunday, September 22, 2002

fiduciary

\fih-DOO-shee-air-ee\ , adjective;

Relating to the holding of something in trust for another.

noun:

Someone who stands in a special relation of trust, confidence, or responsibility in certain obligations to others; a trustee.

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Quotes:

American capitalism relies heavily on the fiduciary duty concept to protect those who entrust their money to large and often distant corporations.

-- Senator Susan Collins, Congressional Record, July 11, 2002

Corporate boards, whose members are elected by shareholders, bear the ultimate legal and fiduciary responsibility for the company's performance.

-- John Maggs, "Out of the Loop", National Journal, March 9, 2002

Congress is faced with a great challenge in protecting workers who need help, while employing our fiduciary responsibility to guard the taxpayer dollar.

-- Representative Jennifer Dunn, The Seattle Times, October 1, 2001

As fiduciaries, investment advisers are expected to be on the client's side of the negotiating table in any deal.

-- Robert Barker, "Will the SEC Bless This Masquerade?", Business Week, March 9, 2002

Origin:

Fiduciary comes from Latin fiduciarius, from fiducia, "trust," and is related to faith and fidelity.