“The most fundamental duty of the fiduciary obligation of trust law is the duty of undivided loyalty to the beneficiary.” (Sitkoff, Robert H. Wills, Trusts and Estates. New York: Wolters Kluwer Law & Business, 2013.)

While the traditional trust law duty of loyalty does not apply to all bank fiduciary activities, it should serve as the starting point for all self-assessment. This session will explore the increasing complexity of the financial services marketplace and examine examples of traditional and developing conflicts of interest that arise in delivery of fiduciary investment services.