Fiduciary Liability can be confusing, but basically, it encompasses anyone who has control of directing assets of others within the company.
Several years ago, there was a company called Enron that was selling power to the state of California at outrageously high rates. They had their own little investment retirement plan, like a 401k, but the company was doing so well that the people running this on behalf of the employees said, “Look, it’s a self-directed plan, but I’m telling you where you ought to put your money, you ought to be buying Enron stock.”
The employees bought a ton, and stock was going up…until it blew apart one day, and they went bankrupt. That’s when Fiduciary Liability comes in. Recommending employees to invest in the company was a bad recommendation…