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In return for these benefits, the profession has made fiduciary commitments to care for individuals who are compromised by the misfortunes of disease [ 12].
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While crowdfunding (both donation and equity based) offers amazing opportunities, it also brings fiduciary responsibilities, commitments of time, reporting requirements and the potential to let down the people who mean most to you in the world if the unforeseen happens and failure occurs.
Fiduciary loyalty would forbid this.
(R2 Contracts: §344 cmt. a). 4. The precise content of fiduciary loyalty varies across fiduciary contexts.
In a statement, Forstmann Little said: "We deeply regret that the state of Connecticut believes Forstmann Little has treated its investment with anything but the firm's longstanding and paramount commitment to fiduciary responsibility".
"I guess I'm surprised that Secretary Chu made the decision earlier this year to give the private sector priority over the federal commitment, because your fiduciary duty is to the taxpayer, and not to an applicant.. . .
He told The Post-Gazette then that the A.C.C.'s move to take them would be viewed as "somewhat of a low point" and accused the A.C.C. and the departing universities in a lawsuit of "broken commitments, secret dealings, breaches of fiduciary responsibility, the misappropriations of conference opportunities and predatory attempts to eliminate competition".
Fiduciary: This fancy word means the financial planner has made a commitment to work in the clients' best interests at all times.
Note, too, that Read wrote himself a mighty get-out clause: "We make these commitments for a minimum of five years, recognizing our ability, consistent with our fiduciary duties, to adjust these obligations should circumstances significantly change".
In an interview with The Los Angeles Times on Thursday, Mr. Liguori acknowledged that there were potential buyers for some of the newspapers and that "it is my fiduciary responsibility to hear them out and see if in fact their interest is real and their commitment is concomitant with the value of these newspapers".
Scrupulous fiduciary.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com