Fiduciary duties Definition

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What does Fiduciary duties mean?

A fiduciary duty indicates a relationship of trust, assurance or confidence between two or more parties, such as a company and its directors. fiduciary duties are part of a wide range of equitable and common law duties evolved by the courts over many centuries. In the context of company directors, a number of key fiduciary duties are notable, including the duty to act in the best interests of the company, a duty to act within the powers conferred by the company's memorandum and articles of association, a duty not to fetter one’s own discretion, a duty to avoid a conflict of interest, and a duty not to make unauthorised profit. The essence of many of these fiduciary (and other common law or equitable) duties were codified in CA 2006, Pt 10 (see also Directors’ duties). However, the underlying common law rules and fiduciary principles continue to be relevant when interpreting and applying the statutory duties.

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UK Consumer credit—timeline

UK Consumer credit—timeline This timeline shows key developments relating to the UK's consumer credit regime. For earlier developments, see: Consumer credit—timeline (2011–2023) [Archived]. 2025 Date Source Document Description 2 April 2025 FCA FCA written submissions [2024] EWCA Civ 1282 The Financial Conduct Authority (FCA) has published its written submissions to the Supreme Court in the appeal of the Court of Appeal decision in Johnson v FirstRand Bank Ltd (London Branch) (trading as Motonovo Finance) and other cases [2024] EWCA Civ 1282to which the FCA was granted permission to intervene. In its submissions, the FCA stated that the sweeping approach of the Court of Appeal in (effectively) treating motor dealer brokers as owing fiduciary duties to consumers in the generality of cases goes ‘too far’. The three-day hearing is set to conclude on Thursday 3 April.See News Analyses: Billions on the line as justices weigh motor finance appeal, Motor finance ruling was ‘egregious error’, lenders say, and FCA pleads for quick motor finance decision from top court....

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How to appoint a sales and marketing agent

How to appoint a sales and marketing agent This Practice Note is a ‘how to’ guide on appointing a sales and marketing agent. It includes a summary of what agency is, an explanation of alternative routes to market, factors to consider before selecting a sales and marketing agent, and practical guidance on negotiating an agency agreement. It considers the appointment of a sales and marketing agent where the agent promotes the sale of the principal’s products and makes representations about the characteristic properties of the products, as well as acting as sales agent with the authority to conclude binding contracts on behalf of the principal. What is agency? Agency is a relationship under which a principal appoints an agent to act under their direction and on their behalf for specified purposes. In essence, the principal grants authority to the agent to perform certain acts or make certain decisions for which the principal is generally considered liable. Such authority may be express, implied, apparent or ostensible. For more information, see Practice...

Case tracker—2025—Corporate

Case tracker—2025—Corporate This case tracker displays the current status of, and most recent developments in, key cases relevant to corporate practitioners where the judgment was handed down, or is expected to be handed down, in 2025. It covers key cases before the High Court, Court of Appeal and the Supreme Court. It is not intended to be an exhaustive list of cases heard in 2025. For the purposes of this tracker, CA 2006 means the Companies Act 2006 and FSMA 2000 means the Financial Services and Markets Act 2000. April 2025 Case details and analysis Subject Summary Kington S.À.R.L. and others v Thames Water Utilities Holdings Ltd and others [2025] EWCA Civ 475Court of Appeal Public company takeovers (Schemes) This was an appeal from the decision of Leech J to sanction a restructuring plan under Part 26A of the Companies Act 2006 in respect of Thames Water Utilities Holdings Limited. The key legal findings were: (1) the court reaffirmed principles from Re AGPS Bondco Plc on the application of Part 26A, including...

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Unapproved share option agreement—standalone deed for employee

Unapproved share option agreement—standalone deed for employee This AGREEMENT is made on [insert date of execution of the share option agreement] Parties 1 [insert name of company whose shares are being granted under option] (registered number [insert registered number of company]) whose registered office is at [insert registered address of company] (the Company);[and] 2 [insert name of option holder] of [insert address of option holder] (the Option Holder) [and] 3 [[insert name of grantor (if different from company)] of [insert address of grantor] (the Grantor)] Background (A) [The Company has agreed to grant to the Option Holder as at the date of this Agreement an Option to acquire Shares on the terms set out in this Agreement. OR The Company and the Grantor intend that, as at the date of this Agreement, the Option Holder be granted an Option to acquire Shares on the terms set out in this Agreement.] (B) [The Company will satisfy the exercise of the Option by transferring or procuring the...

Will—unmarried, divorced, separated with children, no partner

Will—unmarried, divorced, separated with children, no partner STOP PRESS: Abolition of non-dom regime and introduction of residence-based IHT regime. Finance Act 2025 (FA 2025) which received Royal Assent on 20 March 2025, implements legislation to abolish the remittance basis of taxation and replace it with a residence-based regime, commencing on 6 April 2025. FA 2025 also replaces domicile as the key factor in establishing liability to inheritance tax. Other changes include amendment of the rules determining excluded property status, the abolition of protected settlements status of offshore trusts, and changes to overseas workday relief. For information on these changes, see Practice Notes: The abolition of the remittance basis of taxation from 2025–26 and A new residence-based regime for IHT from 2025–26. See also: Finance Bill Tracking Service: Key dates (Finance Bill 2025) and Finance Act 2025. 1 Revocation I [full name of testator] of [address of testator] revoke all former testamentary dispositions made by me[ to the extent that and so far only as they affect my property of every...

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Dispute Resolution weekly highlights—1 May 2025

This week's edition of Dispute Resolution weekly highlights includes analysis of a number of key DR developments and key judicial decisions including the 11th edition of the King’s Bench Guide and the Court of Appeal decision in Freeman v Home Farm Ellingham Ltd (specific performance); dates for your diary; details of our most recently published content; and other information of general interest to dispute resolution practitioners.

Commercial weekly highlights—1 May 2025

This week's edition of Commercial weekly highlights includes: commentary on the Court of Appeal's decision in Expert Tooling and Automation Ltd v Engie Power Ltd which clarified when agents are required to fully disclose commissions to avoid breaching their fiduciary duties, analysis of the enhanced consumer enforcement powers introduced under the Digital Markets, Competition and Consumer Act 2024 which highlights key takeaways from the Competition and Markets Authority’s final guidance on the reformed consumer protection regime, and news that the Great British Energy Bill has been amended to include measures that tackle modern slavery and human trafficking in supply chains.

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