- Banker-customer relationship — Conduct of business regulation — Monetary obligations
This chapter builds on Chapter 7 by considering the concept of fiduciary duties in the context of commercial transactions, and then in the context of financial arrangements. Although commercial dealings do not usually lend themselves to the formation of fiduciary relationships, the chapter identifies a number of types of arrangement where the concept might apply. It discusses the interplay between the duties that arise from a fiduciary relationship and the obligations that flow from the exchange of confidential information in a commercial transaction. The chapter then turns to consider the role of fiduciary duties in financial transactions, particularly in the dealings between banks and their corporate customers. It concludes by looking at the regulatory rules that safeguard the interests of retail customers, and compares the obligations that these rules place on businesses with the duties that flow from fiduciary relationships.
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