NAT: Strata Managers as Fiduciaries, or ‘Wow, I didn’t know that…’ | LookUpStrata

Описание: Michael Kleinschmidt from Bugden Allen Lawyers joined Nikki Jovicic from LookUpStrata to explore what the ‘F’ word (fiduciary) means in relation to strata managers.

‘Fiduciary’ describes a unique relationship of trust and confidence, typically between parties with asymmetric power. You probably deal with your fiduciaries regularly, although you may not know it. Does this law apply to strata managers? If so, what are the implications, and what does that mean for you?

We delve into:
• Are strata managers, by definition, fiduciaries? If we are going to move on as a profession, we must address this.
• The fiduciary duties:
the conflicts rule
the purchasing rule
the no profit rule
• How does informed consent and disclosure fit into this? Disclosure does not equal consent.
• Strata managers, what basket do you fall into? If you are committed to looking after your clients, ‘aware, but just don’t care’, or a ‘bad actor’?
• We discuss horizontal integrations, where companies own all or part of associated businesses and whether companies adequately disclose these relationships.
• What can you do? SCA and Strata Managers, Michael extends a challenge. Committee members, Nikki extends a challenge. Will you take up the challenge?
• Michael is actively looking for test cases about:
Developer Consultancy
Insurance Commissions
General Commissions
• Can brokers justify their commissions, and should these be more adequately disclosed?
• Much, much more…

Webinar Overview:
0:00 Introduction
1:39 Michael Kleinschmidt’s presentation
5:10 What is a Fiduciary Relationship?
5:13 What are the Fiduciary Duties?
8:01 Strata Managers as Fiduciaries
12:48 What if there is a breach?
20:32 Wow, I did not know that!
28:42 Trends, Truths, Toxins & Thoughts
37:02 The Pledge - Part One
38:48 The Pledge - Part Two
40:22 The Pledge - Part Three
47:02 Question 1
49:32 Question 2
50:28 Question 3
53:32 Question 4
58:39 Question 5
01:04:22 Question 6
01:06:54 Question 7

You can access more information about fiduciary duties in relation to strata managers and download Michael's presentation here: https://www.lookupstrata.com.au/strat...

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Michael Kleinschmidt, Bugden Allen Graham Lawyers
W: https://bagl.com.au/
E: [email protected]

The information contained in this session, including the discussions that arise from submitted questions, is not legal advice and should not be relied upon as legal advice. You should seek independent advice before acting on the information contained in this session.