Word of the DayThursday, February 17, 2005
\fih-DOO-shee-air-ee\ , adjective;
Relating to the holding of something in trust for another.
Someone who stands in a special relation of trust, confidence, or responsibility in certain obligations to others; a trustee.
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
Fiduciary comes from Latin fiduciarius, from fiducia, "trust," and is related to faith and fidelity.
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