IRRC Institute – Tuesday, June 25, 2013

Associety increasingly faces governance challenges at all levels, there is a growing recognition of the need to take a longer term and more systemic view of fiduciary obligations. We begin this article with a summary discussion of how fiduciary duties have developed and been applied in the pension fund context. We then review the ef orts of the Supreme Court of Canada to develop a broader conceptual framework forfiduciary duties and considerstepsthatmight be taken to address and mitigate liability in respect of these dutiesin the context of pension fund administration. We conclude by considering the trajectory of the lawand how it appears to be positioning fiduciaries with public responsibilities and, in doing so, could alterlegal and governance precepts.