This paper explores the dimensions of Artificial Intelligence Law and Breach of Fiduciary duty when using AI research models.The paper also explores Artificial Intelligence in the international realm providing a basis...This paper explores the dimensions of Artificial Intelligence Law and Breach of Fiduciary duty when using AI research models.The paper also explores Artificial Intelligence in the international realm providing a basis for educating international firms.Reading this paper is worth your time because:(1)you will learn about copyrights and artificial intelligence;(2)you will also learn about artificial intelligence and the fascinating developments in money and banking;(3)you will read about the best practices in the disciplines,and international firm concerns and applications of U.S.AI dispositions.This paper will give you parameters so that one may navigate the legal landscape to help you plan and avoid the courts.As we all know,inflation is prevalent,and the best use of resources is essential to stay in business avoiding closure.Those firms domestic and global,who are not aware of the dangers suffer the perils that follow poor resource management practices.Our corporate psychologists and organizational managers heartily agree.展开更多
The existing literature on fiduciary law focuses primarily on commercial settings,and fiduciary principles in the area of family law have seldom been considered.This essay sheds light on the fiduciary principles in Ch...The existing literature on fiduciary law focuses primarily on commercial settings,and fiduciary principles in the area of family law have seldom been considered.This essay sheds light on the fiduciary principles in Chinese family law.There is a set of classic fiduciary duty rules under Chinese family law,such as conflict-of-interest rules and remedies for fraudulent transfers.There are also two special sets of rules that might be considered candidates for traditional fiduciary principles in family law,namely the rules on property distribution in a divorce and the rules on property management for different family members.Moreover,the duty of loyalty in Chinese family law,as well as in many other civil law jurisdictions,is much broader in scope than the traditional duty of loyalty under the common law.This broad duty of loyalty includes the duty of sexual fidelity,the duty of notification about certain sexual activities of one spouse during or even before marriage,and the duty of support between family members.This difference may go back to the historical distinction between law and equity,as well as the logical appropriateness of a broad understanding of the term“loyalty.”展开更多
Even though fiduciary duties take the highest position in the spectrum of legal altruism,and legal fiduciary altruism sometimes differs from moral fiduciary altruism,natural law morality is not necessarily useless in ...Even though fiduciary duties take the highest position in the spectrum of legal altruism,and legal fiduciary altruism sometimes differs from moral fiduciary altruism,natural law morality is not necessarily useless in helping to explain,determine,and justify concrete rules in fiduciary law.Five specific inspirations,in addition to divergences,can be drawn by a closer look at the seven basic goods of John Finnis,natural law theory.First,the basic good of life may help to determine the boundary of the best interest test under the duty of loyalty.Second,the basic good of play,in particular the distinction between business community and play community may help to justify the separate treatment between civil agency and commercial agency regarding the unconditional power of immediate termination.Third,practical reasonableness may help to explain the rule against set-off under the duty of no conflict.Fourth,different cultural notions of sociability may lead to distinct understandings with regard to the no-profit rule.Fifth,different attitudes towards knowledge in various religious beliefs may create distinct understandings about the burden of informed consent.展开更多
Trust is the greatest and most distinctive achievement of English law,grown and developed over the passage of time,to meet new demands towards providing new solutions to problems,resulting in its widespread and invent...Trust is the greatest and most distinctive achievement of English law,grown and developed over the passage of time,to meet new demands towards providing new solutions to problems,resulting in its widespread and inventive use worldwide.Although the trust system was introduced by the enactment of a specialist Trust Law of the People's Republic of China in 2001,there is no significant growth in the use of the trust system in civic life.The personal fiduciary relationship between the settlor and trustee is the foundation of a trust.The trustee has an affirmative cquitable duty to act solely in the interest of the beneficiaries.Whether people can rely on the trust system and use it universally is highly dependent on a trustee's fiduciary duty.In the United States,thirty-four states and the District of Columbia have adopted some substantive provisions of the very valuable Uniform Trust Code(UTC).To promote the development and appropriate application of Chinese Trust Law,this article examines the differences between trustee obligations under the American UTC and Chinese Trust Law,and then proposes the amendment suggestion for Chinese Trust Law.This article consists of five parts.In addition to the Introduction,Part I of this article overviews the provisions of a trustee's fiduciary duties in Chinese Trust Law.PartⅡdiscusses and compares the differences and similarities on trustee's fiduciary duties in Chinese Trust Law and the UTC.PartⅢexplores the comparative consideration of a trustee's fiduciary duties,and provides the proposals for legal reform.Finally,this article brings forward a brief conclusion.展开更多
Automated decision-making systems are being increasingly deployed and affect the public in a multitude of positive and negative ways.Governmental and private institutions use these systems to process information accor...Automated decision-making systems are being increasingly deployed and affect the public in a multitude of positive and negative ways.Governmental and private institutions use these systems to process information according to certain human-devised rules in order to address social problems or organizational challenges.Both research and real-world experience indicate that the public lacks trust in automated decision-making systems and the institutions that deploy them.The recreancy theorem argues that the public is more likely to trust and support decisions made or influenced by automated decision-making systems if the institutions that administer them meet their fiduciary responsibility.However,often the public is never informed of how these systems operate and resultant institutional decisions are made.A“black box”effect of automated decision-making systems reduces the public’s perceptions of integrity and trustworthiness.Consequently,the institutions administering these systems are less able to assess whether the decisions are just.The result is that the public loses the capacity to identify,challenge,and rectify unfairness or the costs associated with the loss of public goods or benefits.The current position paper defines and explains the role of fiduciary responsibility within an automated decision-making system.We formulate an automated decision-making system as a data science lifecycle(DSL)and examine the implications of fiduciary responsibility within the context of the DSL.Fiduciary responsibility within DSLs provides a methodology for addressing the public’s lack of trust in automated decision-making systems and the institutions that employ them to make decisions affecting the public.We posit that fiduciary responsibility manifests in several contexts of a DSL,each of which requires its own mitigation of sources of mistrust.To instantiate fiduciary responsibility,a Los Angeles Police Department(LAPD)predictive policing case study is examined.We examine the development and deployment by the LAPD of predictive policing technology and identify several ways in which the LAPD failed to meet its fiduciary responsibility.展开更多
In a deeply aging society,the appointed guardianship system,as an important arrangement for the protection of the rights and interests of the elderly,still faces many practical difficulties.Typical examples include:du...In a deeply aging society,the appointed guardianship system,as an important arrangement for the protection of the rights and interests of the elderly,still faces many practical difficulties.Typical examples include:during the decision-making stage of whether to choose appointed guardianship,the lack of professionalism and availability of appointed guardians can easily hinder the elderly from choosing to apply it;during the establishment stage of appointed guardianship,the limited rules related to the appointed guardianship agreement can easily lead to the frustration of the elderly’s subjective will;during the operation stage of appointed guardianship,the insufficient accountability mechanisms for appointed guardians can easily lead to the infringement of the personal or property rights of the elderly.By reflecting on its jurisprudential causes,it can be found that the current law largely ignores the orientation of appointed guardianship as a welfare for the elderly in social law,the concept of substantive equality in the appointed guardianship agreement,and the theoretical attributes of the appointed guardianship as a fiduciary relationship.Therefore,the appointed guardianship system in China should be systematically improved to fully release its institutional potential in the protection of the rights and interests of the elderly based on these jurisprudential principles.In particular,it is possible to consider actively promoting the“trust+appointed guardianship”model and cultivating a team of appointed guardians by the state based on the concept of elderly welfare;strengthening the protection of notarization procedures and the reasonable design of the appointed guardianship agreement based on the concept of substantive equality;and refining the fiduciary standards of appointed guardians and strengthening guardianship supervision based on the nature of fiduciary relationship.展开更多
The new Chinese rules on agency do not impose broad“fiduciary”duties on agents—instead,there are a number of specific provisions designed to protect the principal against particular abuses to which it is peculiarly...The new Chinese rules on agency do not impose broad“fiduciary”duties on agents—instead,there are a number of specific provisions designed to protect the principal against particular abuses to which it is peculiarly vulnerable in the principal/agent relationship.Chinese law,thus,deliberately refuses to follow the lead of English law,which imposes very strict and wide-ranging fiduciary duties on agents.This paper argues that this is probably wise.English law has to be seen against a matrix of a system of commercial law which was forged on the anvil of international trade and commodity supply contracts,leading to a set of rules that prefer certainty of outcomes(and the avoidance of litigation)overachieving particular justice in individual cases(such as might have been achieved by subjecting English law to an overarching“good faith”principle).English commercial law is adversarial,not cooperative.This explains why,in a relationship that is characterized by cooperation,such as the principal/agent relationship,the general rules of English commercial law are replaced by wide,justice-oriented rules.A system that is already based on cooperation,for which Chinese law is almost paradigmatic,is likely much more adept at applying the general rules to the agency relationship than English law would be.展开更多
This article attempts to extend the list of fiduciary relationship by unlocking some of the hidden fiduciaries in other areas of South Korean private law.The reason for this is as follows.The exact label of“fiduciary...This article attempts to extend the list of fiduciary relationship by unlocking some of the hidden fiduciaries in other areas of South Korean private law.The reason for this is as follows.The exact label of“fiduciary relationship”may not be widely used,but the underlying mechanisms can be found in many other legal relationships under South Korean private law.Through the clarification of the types of fiduciary relationship,even though it may not be complete,we can come to understand when the fiduciary duty(or the duty of loyalty)and remedies for its breach should be applied.This article shows us that the following should be considered to be fiduciary relationships in addition to trustees and company directors:agents,mandataries,parents and adult guardians,executors of inheritance,commission agents,and partners.It must be stressed that the list is not yet closed.There is always the possibility for a new candidate being added to the list.Like cases must be treated alike,for certainty,systematic consistency,and legal stability are vital for any legal system.展开更多
To strengthen the regulation of controlling shareholders and actual controllers(dual controllers),China's Company Law of 2024 introduces deemed director provisions(DDPs)in articles 180 and 192.Through legal fictio...To strengthen the regulation of controlling shareholders and actual controllers(dual controllers),China's Company Law of 2024 introduces deemed director provisions(DDPs)in articles 180 and 192.Through legal fiction,fiduciary duty and joint liability can be imposed directly on dual controllers without legal directorship,thereby addressing the accountability gaps caused by traditional status-based imputation.However,the DDPs face the implementation challenge due to the openness of key terms like'actually executing company affairs'and'instructing',coupled with the need for a precise review standard by judges when making determinations.It is essential to adopt a flexible system approach in judicial interpretation by the Supreme People's Court.The system comprises three elements:formality,diligence,and reliance,which correspond to the principles of separate legal personality,parity of power and accountability,and equitable protection of interests.Through segmented evaluation and complementary interaction of the elements,this approach will provide judges with a relatively clear framework to avoid arbitrary adjudication and preserve the adaptability of the DDPs to complex business realities.展开更多
Nowadays, the complexity of financial products makes it difficult for retail clients to identify investment risks, and there is an increasing tendency for firms, stipulated by the maximum profits, to recommend or ente...Nowadays, the complexity of financial products makes it difficult for retail clients to identify investment risks, and there is an increasing tendency for firms, stipulated by the maximum profits, to recommend or enter into unsuitable transactions to or for retail clients while providing services of investment advice and portfolio management, which causes great losses to a significant number of investors. So, in the contemporary society, the investor suitability rules through which retail clients can purchase suitable financial products are the indispensable legal basis of investor protection. Currently, the regulations concerning investor suitability management in China have several problems, including the chaotic legal system, low effectiveness level and defective contents, which may make it difficult for suitability to be applied in justice and managed effectively. Since the UK＇s investor suitability rules in the Conduct of Business Sourcebook that apply to retail clients whose contents include requirements of obtaining retail clients＇ information, requirements of information to be provided to retail clients and criteria of assessing suitability are clear and comprehensive, the authors believe that the UK＇s experiences can provide a great enlightenment for China to better investor suitability management rules, including integrating legal documents and optimizing effectiveness level, rationalizing application scope, adding criteria of assessing suitability and revising specific clauses.展开更多
文摘This paper explores the dimensions of Artificial Intelligence Law and Breach of Fiduciary duty when using AI research models.The paper also explores Artificial Intelligence in the international realm providing a basis for educating international firms.Reading this paper is worth your time because:(1)you will learn about copyrights and artificial intelligence;(2)you will also learn about artificial intelligence and the fascinating developments in money and banking;(3)you will read about the best practices in the disciplines,and international firm concerns and applications of U.S.AI dispositions.This paper will give you parameters so that one may navigate the legal landscape to help you plan and avoid the courts.As we all know,inflation is prevalent,and the best use of resources is essential to stay in business avoiding closure.Those firms domestic and global,who are not aware of the dangers suffer the perils that follow poor resource management practices.Our corporate psychologists and organizational managers heartily agree.
基金The National Social Science Fund of China for research funding(16CFX054).
文摘The existing literature on fiduciary law focuses primarily on commercial settings,and fiduciary principles in the area of family law have seldom been considered.This essay sheds light on the fiduciary principles in Chinese family law.There is a set of classic fiduciary duty rules under Chinese family law,such as conflict-of-interest rules and remedies for fraudulent transfers.There are also two special sets of rules that might be considered candidates for traditional fiduciary principles in family law,namely the rules on property distribution in a divorce and the rules on property management for different family members.Moreover,the duty of loyalty in Chinese family law,as well as in many other civil law jurisdictions,is much broader in scope than the traditional duty of loyalty under the common law.This broad duty of loyalty includes the duty of sexual fidelity,the duty of notification about certain sexual activities of one spouse during or even before marriage,and the duty of support between family members.This difference may go back to the historical distinction between law and equity,as well as the logical appropriateness of a broad understanding of the term“loyalty.”
基金supported by the Fundamental Research Funds for the Central Universities,and the Research Funds of Renmin University of China(20XNF003).
文摘Even though fiduciary duties take the highest position in the spectrum of legal altruism,and legal fiduciary altruism sometimes differs from moral fiduciary altruism,natural law morality is not necessarily useless in helping to explain,determine,and justify concrete rules in fiduciary law.Five specific inspirations,in addition to divergences,can be drawn by a closer look at the seven basic goods of John Finnis,natural law theory.First,the basic good of life may help to determine the boundary of the best interest test under the duty of loyalty.Second,the basic good of play,in particular the distinction between business community and play community may help to justify the separate treatment between civil agency and commercial agency regarding the unconditional power of immediate termination.Third,practical reasonableness may help to explain the rule against set-off under the duty of no conflict.Fourth,different cultural notions of sociability may lead to distinct understandings with regard to the no-profit rule.Fifth,different attitudes towards knowledge in various religious beliefs may create distinct understandings about the burden of informed consent.
文摘Trust is the greatest and most distinctive achievement of English law,grown and developed over the passage of time,to meet new demands towards providing new solutions to problems,resulting in its widespread and inventive use worldwide.Although the trust system was introduced by the enactment of a specialist Trust Law of the People's Republic of China in 2001,there is no significant growth in the use of the trust system in civic life.The personal fiduciary relationship between the settlor and trustee is the foundation of a trust.The trustee has an affirmative cquitable duty to act solely in the interest of the beneficiaries.Whether people can rely on the trust system and use it universally is highly dependent on a trustee's fiduciary duty.In the United States,thirty-four states and the District of Columbia have adopted some substantive provisions of the very valuable Uniform Trust Code(UTC).To promote the development and appropriate application of Chinese Trust Law,this article examines the differences between trustee obligations under the American UTC and Chinese Trust Law,and then proposes the amendment suggestion for Chinese Trust Law.This article consists of five parts.In addition to the Introduction,Part I of this article overviews the provisions of a trustee's fiduciary duties in Chinese Trust Law.PartⅡdiscusses and compares the differences and similarities on trustee's fiduciary duties in Chinese Trust Law and the UTC.PartⅢexplores the comparative consideration of a trustee's fiduciary duties,and provides the proposals for legal reform.Finally,this article brings forward a brief conclusion.
基金supported by the National Science Foundation and the National Geospatial Intelligence Agency(No.1830254)the National Science Foundation(No.1934884).
文摘Automated decision-making systems are being increasingly deployed and affect the public in a multitude of positive and negative ways.Governmental and private institutions use these systems to process information according to certain human-devised rules in order to address social problems or organizational challenges.Both research and real-world experience indicate that the public lacks trust in automated decision-making systems and the institutions that deploy them.The recreancy theorem argues that the public is more likely to trust and support decisions made or influenced by automated decision-making systems if the institutions that administer them meet their fiduciary responsibility.However,often the public is never informed of how these systems operate and resultant institutional decisions are made.A“black box”effect of automated decision-making systems reduces the public’s perceptions of integrity and trustworthiness.Consequently,the institutions administering these systems are less able to assess whether the decisions are just.The result is that the public loses the capacity to identify,challenge,and rectify unfairness or the costs associated with the loss of public goods or benefits.The current position paper defines and explains the role of fiduciary responsibility within an automated decision-making system.We formulate an automated decision-making system as a data science lifecycle(DSL)and examine the implications of fiduciary responsibility within the context of the DSL.Fiduciary responsibility within DSLs provides a methodology for addressing the public’s lack of trust in automated decision-making systems and the institutions that employ them to make decisions affecting the public.We posit that fiduciary responsibility manifests in several contexts of a DSL,each of which requires its own mitigation of sources of mistrust.To instantiate fiduciary responsibility,a Los Angeles Police Department(LAPD)predictive policing case study is examined.We examine the development and deployment by the LAPD of predictive policing technology and identify several ways in which the LAPD failed to meet its fiduciary responsibility.
基金the National Social Science Fund of China Youth Project“Research on the Application Dilemma and Solutions of the Appointed Guardianship Clauses in the Civil Code”(Project Approval Number 20CFX075).
文摘In a deeply aging society,the appointed guardianship system,as an important arrangement for the protection of the rights and interests of the elderly,still faces many practical difficulties.Typical examples include:during the decision-making stage of whether to choose appointed guardianship,the lack of professionalism and availability of appointed guardians can easily hinder the elderly from choosing to apply it;during the establishment stage of appointed guardianship,the limited rules related to the appointed guardianship agreement can easily lead to the frustration of the elderly’s subjective will;during the operation stage of appointed guardianship,the insufficient accountability mechanisms for appointed guardians can easily lead to the infringement of the personal or property rights of the elderly.By reflecting on its jurisprudential causes,it can be found that the current law largely ignores the orientation of appointed guardianship as a welfare for the elderly in social law,the concept of substantive equality in the appointed guardianship agreement,and the theoretical attributes of the appointed guardianship as a fiduciary relationship.Therefore,the appointed guardianship system in China should be systematically improved to fully release its institutional potential in the protection of the rights and interests of the elderly based on these jurisprudential principles.In particular,it is possible to consider actively promoting the“trust+appointed guardianship”model and cultivating a team of appointed guardians by the state based on the concept of elderly welfare;strengthening the protection of notarization procedures and the reasonable design of the appointed guardianship agreement based on the concept of substantive equality;and refining the fiduciary standards of appointed guardians and strengthening guardianship supervision based on the nature of fiduciary relationship.
文摘The new Chinese rules on agency do not impose broad“fiduciary”duties on agents—instead,there are a number of specific provisions designed to protect the principal against particular abuses to which it is peculiarly vulnerable in the principal/agent relationship.Chinese law,thus,deliberately refuses to follow the lead of English law,which imposes very strict and wide-ranging fiduciary duties on agents.This paper argues that this is probably wise.English law has to be seen against a matrix of a system of commercial law which was forged on the anvil of international trade and commodity supply contracts,leading to a set of rules that prefer certainty of outcomes(and the avoidance of litigation)overachieving particular justice in individual cases(such as might have been achieved by subjecting English law to an overarching“good faith”principle).English commercial law is adversarial,not cooperative.This explains why,in a relationship that is characterized by cooperation,such as the principal/agent relationship,the general rules of English commercial law are replaced by wide,justice-oriented rules.A system that is already based on cooperation,for which Chinese law is almost paradigmatic,is likely much more adept at applying the general rules to the agency relationship than English law would be.
文摘This article attempts to extend the list of fiduciary relationship by unlocking some of the hidden fiduciaries in other areas of South Korean private law.The reason for this is as follows.The exact label of“fiduciary relationship”may not be widely used,but the underlying mechanisms can be found in many other legal relationships under South Korean private law.Through the clarification of the types of fiduciary relationship,even though it may not be complete,we can come to understand when the fiduciary duty(or the duty of loyalty)and remedies for its breach should be applied.This article shows us that the following should be considered to be fiduciary relationships in addition to trustees and company directors:agents,mandataries,parents and adult guardians,executors of inheritance,commission agents,and partners.It must be stressed that the list is not yet closed.There is always the possibility for a new candidate being added to the list.Like cases must be treated alike,for certainty,systematic consistency,and legal stability are vital for any legal system.
基金supported by the National Social Science Fund of China(21AFX019)。
文摘To strengthen the regulation of controlling shareholders and actual controllers(dual controllers),China's Company Law of 2024 introduces deemed director provisions(DDPs)in articles 180 and 192.Through legal fiction,fiduciary duty and joint liability can be imposed directly on dual controllers without legal directorship,thereby addressing the accountability gaps caused by traditional status-based imputation.However,the DDPs face the implementation challenge due to the openness of key terms like'actually executing company affairs'and'instructing',coupled with the need for a precise review standard by judges when making determinations.It is essential to adopt a flexible system approach in judicial interpretation by the Supreme People's Court.The system comprises three elements:formality,diligence,and reliance,which correspond to the principles of separate legal personality,parity of power and accountability,and equitable protection of interests.Through segmented evaluation and complementary interaction of the elements,this approach will provide judges with a relatively clear framework to avoid arbitrary adjudication and preserve the adaptability of the DDPs to complex business realities.
文摘Nowadays, the complexity of financial products makes it difficult for retail clients to identify investment risks, and there is an increasing tendency for firms, stipulated by the maximum profits, to recommend or enter into unsuitable transactions to or for retail clients while providing services of investment advice and portfolio management, which causes great losses to a significant number of investors. So, in the contemporary society, the investor suitability rules through which retail clients can purchase suitable financial products are the indispensable legal basis of investor protection. Currently, the regulations concerning investor suitability management in China have several problems, including the chaotic legal system, low effectiveness level and defective contents, which may make it difficult for suitability to be applied in justice and managed effectively. Since the UK＇s investor suitability rules in the Conduct of Business Sourcebook that apply to retail clients whose contents include requirements of obtaining retail clients＇ information, requirements of information to be provided to retail clients and criteria of assessing suitability are clear and comprehensive, the authors believe that the UK＇s experiences can provide a great enlightenment for China to better investor suitability management rules, including integrating legal documents and optimizing effectiveness level, rationalizing application scope, adding criteria of assessing suitability and revising specific clauses.
