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89 Can. B. Rev. 1 (2010)

handle is hein.journals/canbarev89 and id is 1 raw text is: 










Vol. 89                        2010                          No. 1



    ACCESS OR EXPECTATION: THE TEST FOR
             FIDUCIARY ACCOUNTABILITY

                         Robert Flannigan*


 The argument persists that fiduciary regulation applies where there is
 a reasonable expectation that one will act in the interest of another.
 While the notion of reasonable expectation may have the appearance of
 substance, it is indeterminate and has the potential to radically
 reconfigure the conventional discipline. The proper (iustified) test for
fiduciary accountability is limited access.


Un argument desormais persistant veut que les rglementations
fiduciaires s 'appliquent dans les cas oit il existe une attente raisonnable
qu 'une personne agira dans l'intert d'une autre personne. Bien que la
notion d'attente raisonnable apparaisse tre un critbre de poids, elle est
imprecise etpourrait radicalement modifier la discipline traditionnelle.
Le bon critbre (c'est-i-dire celui dont le bien-fond  a ete etabli)
applicable t la responsabilitefiduciaire est celui de 1'accbs restreint.



A central concern with any form of legal accountability is the reach of its
application. It is critical to properly identify who is subject to the regulation.
That necessarily depends on the nature of the animating function. The
conventional understanding of fiduciary accountability is that its exclusive
function is to control opportunism in limited access arrangements.1 That


    *   University of Saskatchewan.
    1   Robert Flannigan, The Boundaries of Fiduciary Accountability (2004) 83
Can Bar Rev 35.


THE CANADIAN BAR REVIEW

   LA REVUE DU BARREAU
           CANADIEN

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