Fiduciary Employees In Alberta
Employees can be fiduciaries to their employers in some cases. Generally speaking, fiduciary employees are ones the employer has a high level of vulnerability to. Fiduciary employees are usually ones that could cause substantial harm to their employer if they chose to do so during their employment or afterwards. Fiduciaries tend to be “key employees” near the top of the organizational structure, or employees who are considered the “face” of the organization with respect to some third party(s) the employer does business with such as its clients.
Fiduciary employees have special obligations to put the interests of their employers above their own. Misconduct during employment is generally more serious coming from a fiduciary than it would be from an ordinary employee. Fiduciaries are also more likely than ordinary employees to be held directly liable for bad or dishonest behavior. In a severe case, a fiduciary employee in Alberta could be required to pay millions of dollars in damages to their former employer for breaches of their fiduciary duties.
