References in periodicals archive ?
The failure to follow an investment policy statement is evidence of a breach of fiduciary responsibility.
While Department of Labor (DOL) regulations do not require additional coverage, they do mention and recommend fiduciary insurance to cover a breach of fiduciary responsibility at the plan sponsor level.
Bringing it closer to home, the IREM Ethics Boards see a number of complaints against its members for breach of fiduciary responsibility, including managers who have commingled, diverted and personally used funds belonging to a client.