Research On The Trustee’s Duty Of Loyalty

Trustee’s Obligations is an important part of the trust system,fiduciary duty is the core of the trustee’s obligation,while the trustee’s fiduciary duty is the core of faith obligation.The Trust Law of the People’s Republic of China(here in after referred to as "the Trust Law")do not directly use the term "fiduciary duty".However,from the content of "Trust Law",China still has entrusted Person’s faithful obligation.The fiduciary duties of trustees are mainly embodied in Articles 25,26,27 and 28 of the Trust Law.Article 25 and Article 26 are the definition of the basic connotation of the faithful obligation of the trustee of our country,which can be summed up as "the principle of maximum benefit" and "the profit of the trust property can not be used".Articles 27 and 28 are specific provisions for the fiduciary duty of the trustee.In addition to the "Trust Law",the "Trust Company Management Measures" Article 24,Article 25,Article 33 and Article 34 of the fiduciary duty of loyalty is also regulated.However,because China is a statutory country,can not be the same as the Anglo-American countries as the basis for the application of jurisprudence as a judgment,and faithful obligations to the trustees of the regulation is too rough,there are legal loopholes,resulting in fiduciary trustee fiduciary duties against faithful obligations,but the stakeholders in the field of trust law can not find the corresponding legal basis to sue to defend their own interests.From the development of our country’s trust practice,there are three main problems in the Trust Law:one is the basic connotation of the duty of loyalty,the lack of the general provisions of the principle of conflict of interest;the second,the specific judgment standard of the duty of loyalty Not specific,although China is a statutory law can not be done for each case to make specific provisions,but it can not be too brief,or even a legal gap.For example,China’s "Trust Law" on the trustee to use the opportunity to profit without regulation of the trust,the narrow scope of application of related party transactions,the trustee and the beneficiaries of the trust property has nothing to do with the lack of necessary regulation;The system is imperfect,although the provisions of the trustee fiduciary duties should be held responsible,but on the exercise of the right to exercise the subject,the way and how to determine the specific amount and so there is no specific and directly applicable provisions.The trust system of our country is transplanted in Anglo-American law system,and there are many places in the development process which are incompatible with the legal system of our country.There are a series of problems in the faithful duty system of the trustee,which is also a microcosm of the problems in the practice of our trust system.The trust law is in name only,trust legislation and our booming trust industry seriously does not match,although it seems that the trust industry is booming,but the lack of legal support system Trust industry,after all,is short-lived.Trust Law has been enacted for 15 years,it is time to strengthen the legislation in the development of the trust industry,our Trustee’s Faithful obligation system is an important system to protect the trust property from infringement,through the study of Anglo-American law and other related countries trust Legal concepts and relevant systems,and then draws lessons from the experience of the development of the trust system introduced by the civil law countries earlier in order to perfect the specific content of the Trustee’s Faithful obligation and clarify the evaluation criteria,and systematically put forward the proposal of judging whether.the trustee violates the faithful obligation;And construct a perfect standard system of Faithful obligation.In addition,the trustee should be responsible for the breach of faith obligation,the ownership of the right of relief,the allocation of burden of proof and the amount of damages.The system of duty of loyalty is complementary to the standard of faithful obligation.