Fiduciary and Other Legal Duties

Socially Responsible Finance and Investing: Financial Institutions, Corporations, Investors, and Activists, pp. 69-85, H. Kent Baker & John R. Nofsinger, eds., John Wiley & Sons, 2013

Posted: 4 May 2013

Date Written: 2013

Abstract

Can investors lawfully engage in socially responsible investment (SRI)? The legal context to SRI is a complex and detailed subject. This chapter canvasses selected issues. It focuses on the fiduciary and trust law duties that govern finance in the institutional sector, including consideration for case law and academic commentary. The chapter concludes with a discussion of some recent statutory reforms that affect fiduciary finance and SRI. The chapter does not consider the legal issues that arise in the retail sector that caters directly to individual investors. Other legal issues that may affect SRI, such as corporate governance, contract law and securities law, are also not examined. Throughout the chapter, a multijurisdictional approach to the subject mater is taken, with some emphasis on legal precedents from the major common law jurisdictions (i.e United States and United Kingdom), which have among the most developed financial markets and legal rules for SRI.

Keywords: Fiduciary and tusts law, Socially responsible investment

Suggested Citation

Richardson, Benjamin J., Fiduciary and Other Legal Duties (2013). Socially Responsible Finance and Investing: Financial Institutions, Corporations, Investors, and Activists, pp. 69-85, H. Kent Baker & John R. Nofsinger, eds., John Wiley & Sons, 2013. Available at SSRN: https://ssrn.com/abstract=2256734

Benjamin J. Richardson (Contact Author)

University of Tasmania - Faculty of Law ( email )

Private Bag 89
Hobart, Tasmania 7001
Australia

HOME PAGE: http://www.utas.edu.au/law

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