The Emerging Legal Relationship between an Investment Banker and Its Client: An Argument for a Fiduciary Relationship
12 Hamline Law Review 43
15 Pages Posted: 1 Jun 2013
Date Written: 1988
Abstract
Fiduciary duty claims are becoming a hot topic. Increasingly plaintiffs in a variety of commercial situations are suing under some fiduciary duty theory. Fornerly, fiduciary duties were only imposed on persons occupying some special position such as trustee or guardian. Lately, however, the courts, in a limited number of circumstances have begun taking a second at creating or expanding certain fiduciary duties. There are many legitimate arguments for limiting the extension of the fiduciary duty doctorine. Nonetheless, because of the changing conditions and demands in certain select areas of our commercial world, the imposition of fiduciary duties may be appropriate. The investment-banking field is one such area.
Keywords: Fiduciary duty, Banker client relationship, Banker, NASD, NASD Rules of Safe Practice
JEL Classification: G21, K2, K20
Suggested Citation: Suggested Citation