ASIC v Citigroup and fiduciary obligations

The Role of Status in the Law of Obligations: Common Callings, Implied Terms and Lessons for Fiduciary Duties

The focus of this conference is on fiduciaries. This paper addresses an important and difficult question at the heart of the law concerning fiduciaries. But the question is not confined to fiduciary law. It has repercussions throughout the law of obligations. The question is the role played by the status or office of a person in determining the obligation owed. One possible answer to this quest...

CFO Fiduciary Responsibilities and Incentive Compensation

We examine how firms evaluate and compensate their chief financial officers (CFOs). CFOs participate in decision making much like other executives, but unlike most other executives they have fiduciary responsibilities for reporting firms’ financial results and safeguarding the integrity of financial reporting. Responsibility for financial reporting raises the question of whether it is appropria...

Co-national Obligations & Cosmopolitan Obligations towards Foreigners

Delegation of Powers and the Fiduciary Principle

No more serious pitfall threatens the student of the European Union than the idea of assessing the EU’s institutions and decision processes using the same criteria that are relevant at the national level. For example, in spite of several superficial analogies, one cannot understand the European Parliament using the same conceptual categories which have proved useful in analyzing national parlia...

Fiduciary Duties and Equity‐Debtholder Conflicts

Working papers are in draft form. This working paper is distributed for purposes of comment and discussion only. It may not be reproduced without permission of the copyright holder. Copies of working papers are available from the author. Abstract. We use an important legal event as a natural experiment to examine the effect of management fiduciary duties on equity‐debt conflicts. A 1991 Delawar...