PHI 2397 Lecture Notes - Lecture 6: Securities Act Of 1933, Financial Services, Fiduciary

• School: University of Ottawa
• Department: Philosophy
• Course: PHI 2397
• Professor: Dean Lauer

Document Summary

John r. boatright - professor at loyola university of chicago. Financial markets: vulnerable to unfair trading practices (fraud and manipulation), unfair conditions (an unlevel playing field), and contractual difficulties (forming, interpreting, and enforcing contracts) The main aim of federal securities laws and the self-regulation of exchanges is expressed in the phrase fair and orderly markets, which reflects the need in financial markets to balance the twin goals of fairness and efficiency. Financial services: financial intermediaries commonly make decisions as agents for principals in an agency relation, and they often become fiduciaries with fiduciary duties. Many individuals and institutions serve as financial intermediaries, providing financial services on behalf of others. Agents and fiduciaries have an obligation to act solely in the interests of other parties and, especially, to avoid conflicts of interest. Financial services providers have the obligations of any seller to avoid deceptive and abusive sales practices.