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English definition of “fiduciary”

fiduciary

adjective
 
 
/fɪˈdjuːʃIəri/ US   /-ˈduːʃier-/ LAW
relating to the responsibilities of a person or organization that manages property or money belonging to another person or organization: fiduciary duties/obligations Management and the board of directors have fiduciary obligations which require that reports be produced in a manner consistent with these obligations. "They have a fiduciary responsibility to watch the dollars at Chicago State," Davis said. This case dealt with a managing director who was clearly in a fiduciary position.
(Definition of fiduciary adjective from the Cambridge Business English Dictionary © Cambridge University Press)
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