Fiduciary duties require portfolio managers to prioritise client interests, disclose conflicts and avoid insider-driven transactions. Portfolio managers must observe high standards of integrity and professional care, deploy client monies promptly, pay dues forthwith, avoid placing their interests above clients', and not trade in proprietary accounts against client interests. They must avoid or disclose conflicts of interest, obtain written client disclosures of interests that may yield unpublished price-sensitive information, maintain client confidentiality, effect client securities transfers and rights per instructions, and refrain from market manipulation, false markets or trading on unpublished price-sensitive information. Public investment advice requires disclosure of long or short positions, and managers must comply with applicable laws and insider trading rules.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Fiduciary duties require portfolio managers to prioritise client interests, disclose conflicts and avoid insider-driven transactions.
Portfolio managers must observe high standards of integrity and professional care, deploy client monies promptly, pay dues forthwith, avoid placing their interests above clients', and not trade in proprietary accounts against client interests. They must avoid or disclose conflicts of interest, obtain written client disclosures of interests that may yield unpublished price-sensitive information, maintain client confidentiality, effect client securities transfers and rights per instructions, and refrain from market manipulation, false markets or trading on unpublished price-sensitive information. Public investment advice requires disclosure of long or short positions, and managers must comply with applicable laws and insider trading rules.
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