Topic: “Equity in an Age of Uncertainty: Big Data, Confidentiality and Fiduciary Liability”
The QUT Faculty of Law presents the 18th Annual W A Lee Equity Lecture presented by David Russell QC. The W A Lee Equity Lecture is held each year in honour of foremost equity and trusts academic and author Honorary Professor W A ‘Tony’ Lee.
Abstract: As trusts are increasingly used as commercial and wealth management vehicles, they are becoming subject to regulation which is drafted without consideration of the specific needs of trusts and those connected with them. At the same time there is an increasing disconnect between fiduciary principles and public behaviour in the political and corporate realms.
The speaker will address:
- The longer term consequences of Data Protection Legislation, and specifically the decision of Dawson-Damer v. Taylor Wessing LLC  EWCA Civ 74, for trust administration;
- Disclosure of beneficial interests under the Common Reporting Standard and European Anti-Money Laundering Directives and their implications for confidentiality in trust relationships; and
- The linkage between the decline in public trust in institutions and the seeming failure of fiduciary obligations to be applied and enforced.