What are fiduciary duties?
Certain relationships give rise to fiduciary duties, such as those of a trustee, a company director or in certain cases LLP members to the LLP. Some senior employees may also owe fiduciary duties to their employer.
In Hopcraft v Close Brothers Ltd [2025] UKSC 33, the Supreme Court summarised the core obligation: “a fiduciary acts for and only for another. He owes a duty of single-minded loyalty to his principal, meaning that he cannot exercise any power in relation to matters covered by his fiduciary duty so as to benefit himself.” Two well-recognised rules flow from this duty of loyalty. Under the ‘no conflict’ rule, a fiduciary must not put themselves in a position where their interests and those of their principal might conflict. Under the ‘no profit’ rule, a fiduciary must not obtain a personal benefit from their position. In both cases, the principal’s informed consent provides a defence.
Must a fiduciary disclose their own wrongdoing?
Employers often… Read the complete article here...
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