The award of equitable compensation for breach of fiduciary duty has now become an established practice of the English and Commonwealth courts. The article reviews this development and considers these questions: what idea of fiduciary duty actuated the old rule that compensation was not available for breach of this duty; now that it is available, what are the consequences of this for our understanding of the duty and of the other remedies for its breach; and how should compensatory awards for breach of fiduciary duty be assessed?

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