Discretionary Investment Management

Finance a la Shmoop! What does it mean to have fiduciary obligation? Alright well

fiduciary refers to the responsible person, who has oversight, above a given

financial transaction, or process. That is, it is the fiduciary obligation, of the

head of a corporation's Audit Committee, to be certain that the

accounting process is handled fairly, objectively, inclusively and thoroughly [boss overseeing worker]

and there are a few other ly's in there, but well you get the gist. Doesn't it

seem strange, that some companies just seem to get into the same kind of

trouble again and again. Remember the BP oil spill, well it wasn't the first time

they'd had, an accident. You know, if you can call that spill only an accident.

What kind of oversight did they have? Any? Well some companies just have a [man carrying oil barrel

corporate culture that's run by the notion, that well, whatever isn't caught

as a crime, is legal. Lots of Wall Street stock brokerages came and went this

way. Yah, remember the Wolf of Wall Street? Kind of like that. Well what is

the obligation of a responsible party when faced with ethical dilemmas? Where

does the obligation start and stop? Should fiduciaries be held to a higher

personal standard than normal people? Yah, kind of the, you know, Harvey

Weinstein effect there. Yes, No, maybe, alright. Right, all three times. [question ABCD chart]

It's definitely yes, no, or maybe.