fiduciary issue


Also found in: Dictionary.
Related to fiduciary issue: fiat money

fiduciary issue

or

fiat currency

CURRENCY issued by a government that is not matched by government holdings of GOLD or other securities. In the 19th century most currency issues were backed by gold, and people could exchange their BANK NOTES for gold on demand. Nowadays most governments have only minimal holdings of gold and other securities to redeem their currency so most of their currency issues are fiduciary See MONEY SUPPLY.
Mentioned in ?
References in periodicals archive ?
The SEC should take an interest in the fiduciary issue because "this all started as an investor confusion problem.
Essentially, then, we are suggesting that provision be made for a fiduciary issue within a 'currency board' framework.
While all perspectives on corporate governance agree on the importance of the fiduciary issues in corporate governance, differences arise in the nature and importance of the control role, and how difficult it is for ineffective boards to mask their lack of stewardship.
An industry lawyer who asked not to be named said the fiduciary issue was the critical one for agents.
Bullard, a supporter of DOL's fiduciary plan, acknowledged that the SEC should have addressed the fiduciary issue, but has "failed to do so.
Ann Wagner that also repeals the rule and, as Wagner has stated, keeps the fiduciary issue "under the jurisdiction of the SEC, the expert regulator who has the experience of overseeing the industry.
Stein said it's important to have "robust policy debates" around the fiduciary issue, and that there is no "one silver-bullet solution.
On the other side of the fiduciary issue, it appears the needle will also move forward on the Security and Exchange Commission (SEC) proposal for a uniform fiduciary standard rule, according to the agency's 2012 financial report.
Hamburger said that on the fiduciary issue, "a real battle is being raged here," with the intent to deliver "overall harmonization" of RIA and broker regulation.
If the CFP Board doesn't get financial planners on the right side of the fiduciary issue right quick--as full-time fiduciaries--it's running the very real risk of marginalizing the entire profession; which I've been covering for over 30 years.
While we continue to advocate for a thoughtful resolution to the fiduciary issue -- one that preserves investor choice -- LPL recognizes that the DOL rule will have implications for financial advisors and investors," said LPL President Dan Arnold, in a statement earlier this year.
Kitces is right that the current fiduciary issue is one of the brokerage industry's own making.