fiduciary duties: the obligation of a fiduciary to act on behalf of another and to be extremely loyal to the person owed the duty; he or she must not put their personal interests before the duty, and must not profit from their position as a fiduciary.

"The fiduciary duties of a company director include the duty to act in good faith in the best interests of the company and to avoid conflicts of interest, therefore it was a breach of the CEO’s fiduciary duty to give himself a bonus that exceeded the company guidelines."

"Board members owe a fiduciary duty to the company."

Related terms :
fiduciary duty: the singular form of fiduciary duties.

fiduciary relationship: a relationship in which a person has a duty to act for another’s benefit involving trust and good faith.