Lloyd Brown, ‘Quasi-trustees, unauthorised purposes and ethical investment: What is the significance of the R (Palestine Solidarity Campaign Ltd and Another) v Secretary of State for Communities and Local Government [2020] UKSC 16 case for the trustees’ fiduciary duty of investment and “ethical” investment opportunities?’

steve on 19 January 2024 — Leave a Comment

ABSTRACT
This case analysis concerns the decision of the UK Supreme Court in R (Palestine Solidarity Campaign Ltd and Another) v Secretary of State for Communities and Local Government, which determines whether guidance issued by the Secretary of State was ultra vires. The guidance confined the administration of a local government pension scheme in respect to ‘ethical’ investments deemed contrary to central government policy. The outcome of the decision is significant for its acknowledgment of the overriding importance of the trustees’ fiduciary duty of investment, together with being contemporaneous with the current trend for ‘ESG’ considerations in the economic markets.

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Lloyd Brown, Quasi-trustees, unauthorised purposes and ethical investment: What is the significance of the R (Palestine Solidarity Campaign Ltd & Anor) v Secretary of State for Communities and Local Government [2020] UKSC 16 case for the trustees’ fiduciary duty of investment and ‘ethical’ investment opportunities?, Trusts and Trustees, https://doi.org/10.1093/tandt/ttaa112. Published: 25 January 2021.

First posted 2021-01-30 16:30:03

Posted in Equity and Trusts

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