English version

fiduciary

From Longman Business Dictionary
Related topics: Banking, Law
fiduciaryfi‧du‧ci‧a‧ry1 /fɪˈduːʃiəri-eri/ noun (plural fiduciaries)1[countable]LAW someone who is responsible for the assets of people, organizations etc and, by law, must protect their interestsWhere corporate information is revealed legitimately to a consultant working for the corporation, they may become fiduciaries of the shareholders.2[uncountable]BANKING coins and BANK NOTEs put into CIRCULATION (=made available for public use) by a bank, usually a CENTRAL BANKThe issue of banknotes is the sole function of the issue department, the notes being fiduciary backed by government securities rather than backed by gold.
Related topics: Law
fiduciaryfiduciary2 adjective LAW involving the relationship of trust that a fiduciary must have with the person or organization whose assets or interests they are responsible forA person in a fiduciary position is not entitled to make a profit or to put himself in a position where his interest and duty conflict.
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