Safeguard by Rule of Law for the Fiduciary Construction of Chinese Capital Market
Fiduciary construction in the capital market requires the safeguard by rule of law, i.e., legislation and enforcement of fiduciary law as well as construction of fiduciary morality and cultural system. As a separate legal category, fiduciary law provides for fiduciary duties and liabilities for entities and individuals in both private and public power sectors and imposes proper penalties on those fiduciaries for their failure in fiduciary duties through a set of consistent legal systems and rules. Legislation in fiduciary law should be based on the Securities Law, clarify the fiduciary duties and liabilities of fiduciaries and focus on the arrangement of legislation and enforcement as a whole.
Key words: Fiduciary construction; Fiduciary law; Fiduciary duties; Legal liabilities
Louis D. Brandeis (1932). Other People’s Money, and How the Bankers Use It (p. 92). New York: Frederick A. Stokes Co..
Tamar Frankel (2011). Fiduciary Law (p. 279, 106, 107). Oxford University Press.
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