A situation whereby an individual does not honor their fiduciary obligations or responsibilities by failing to act on breaches of fiduciary duty when doing so may have prevented the infractions. This is considered to be professional malpractice. A fiduciary is still considered to be negligent, even if they did not benefit from their actions.
Related information about fiduciary negligence:
- Fiduciary Negligence Definition | Investopedia
Fiduciary negligence occurs when a fiduciary fails to act on breaches of fiduciary duty when his or her actions could have prevented the infractions.
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- Fiduciary Negligence: Definition from Answers.com
Fiduciary Negligence A professional malpractice in which a person fails to honor his or her fiduciary obligations and responsibilities.
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