Yeah, and?
“But to say that a man is a fiduciary only begins analysis; it gives direction to further inquiry. To whom is he a fiduciary? What obligations does he owe as a fiduciary? In what respect has he failed to discharge these obligations? And what are the consequences of his deviation from duty?”
SEC v. Chency Corp., 318 U.S. 80, 85-86 (1943)
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