A payment due on demand. An at sight payment will require the party receiving the good or service to pay a certain sum immediately upon being presented…

A person who is authorized to perform business-related transactions on behalf of someone else (the principal). In order to become someone's attorney in…

A unit within a company that is responsible for overseeing the procedures and accuracy of recordkeeping and accounting functions within that company. The…

The risk that an auditor will not discover errors or intentional miscalculations (i.e. fraud) while reviewing a company's or individual’s financial statements…

Dictated by state laws or by trust instruments designed to restrict the kinds and amounts of investments allowed within a trust. In most cases, an authorized…

The maximum number of shares that a corporation is legally permitted to issue, as specified in its articles of incorporation. This figure is usually listed…

Balances in checking or on-demand accounts where there is a delay in crediting funds to an account.  If a check deposit has not been cleared by the issuing…

A common nickname given to the U.S. regional telephone companies that were formed from the breakup of AT&T ("Ma Bell") in 1984. Baby Bells were created…

Tax that is levied on investment income, at an established tax rate, as the investor withdraws it. Backup withholding helps to ensure that government…

Any business day during which commercial banks and savings & loans institutions are closed for business to the public, specifically at physical locations…

Government legislation that was created in 1970 to prevent financial institutions from being used as tools by criminals to hide or launder their ill-gotten…

A type of Individual Retirement Account (IRA) allowed by the Employee Retirement Income Security Act of 1974 (ERISA) in which contributions are paid into…

A state-specific regulatory body that oversees the operations of financial institutions within its jurisdiction. The primary responsibility of the banking…

A person appointed by the United States Trustee, an officer of the Department of Justice, to represent the debtor's estate in a bankruptcy proceeding…

A set of agreements set by the Basel Committee on Bank Supervision (BCBS), which provides recommendations on banking regulations in regards to capital…

A committee established by the central bank governors of the Group of Ten countries in 1974 that seeks to improve the supervisory guidelines that central…

A set of international banking regulations put forth by the Basel Committee on Bank Supervision, which set out the minimum capital requirements of financial…

A set of banking regulations put forth by the Basel Committee on Bank Supervision, which regulates finance and banking internationally. Basel II attempts…

A specific location used in the basing point pricing system. Usually, the basing point is where the manufacturing of a product or production of a commodity…

A fixed-income instrument that is owned by whoever is holding it, rather than having a registered owner.  Coupons representing interest payments are likely…

The chairman of the board of governors of the U.S. Federal Reserve. Bernanke took over the helm from Alan Greenspan on February 1, 2006, ending Greenspan…

A reduction in the amount of benefit payments received by a member of a retirement plan which may result when the member owes money to the plan.A benefit…

The former chairman of the Nasdaq and founder of the market-making firm Bernard L. Madoff Investment Securities. Madoff, who also ran a hedge fund, was…

A set of guidelines, ethics or ideas that represent the most efficient or prudent course of action. Best practices are often set forth by an authority…

The Better Business Bureau (BBB) aims to promote ethical business practices, leading to an environment where buyers and sellers can operate under a common…

Intraday credit limits set by two institutions for use with one another, usually within a large clearing system that operates by netting amounts due to…

A market that has only one supplier and one buyer. The one supplier will tend to act as a monopoly power, and look to charge high prices to the one buyer…

A legal document between the shipper of a particular good and the carrier detailing the type, quantity and destination of the good being carried. The…

A type of economic activity that takes place outside of government-sanctioned channels.  Black-market transactions typically occur as a way for participants…

A limited partnership or stock offering with no stated investment goal for the funds that are raised from investors. In a blind pool, money is raised…

An account that is subject to foreign exchange controls in a country that restricts the amount of its currency that can be transferred to other countries…

An error that was unintentional; an "honest error." If a bona fide error is corrected immediately, then a defendant may not be liable for an action.For…

A lawyer who represents the bondholders' interests during a bond offering and who prepares the legal opinion attesting that the issue is legal, valid…

Engaging in banking activities such as accepting deposits or making loans at facilities away from a bank's home office. Branch banking has gone through…

Violation of any of the agreed-upon terms and conditions of a binding contract. This breach could be anything from a late payment to a more serious violation…

The sale of a mutual fund at a set dollar amount that allows the fundholder to move into a lower sales charge bracket. If, at the time of investment, an…

A common fee used in takeover agreements if the seller backs out of a deal to sell to the purchaser. A breakup fee, or termination fee, is required to…

An illegal payment from one party to another, usually in return for a legal or financial favor. Bribes are often made to public officials or heads of…

Under the Investment Advisor's Act of 1940, the Brochure Rule requires federally registered investment advisors provide a written disclosure statement…

A situation where an employee in the research department of an investment bank - usually a research analyst - is brought over to work for the underwriting…

A type of escrow agreement placed on the sale of inventory, business assets or an entire company. The escrow serves to protect the interests of unsecured…

A division of the U.S. federal government's Department of Commerce that is responsible for the analysis and reporting of economic data used to confirm…

A regulation that helps to make sure a corporation’s board of directors is protected from misleading allegations about the way it conducts business. Unless…

Formerly known as "Revenue Canada", this is Canada's federal agency responsible for income tax and trade regulations. This is the Canadian equivalent…

A non-profit organization that was created to analyze issues arising in the Canadian and international capital markets. The organization is focused on…

A collective forum composed of all the provincial and territorial securities regulators of Canada. The CSA's main goal is to collaborate on the creation…

Any measure taken by a government, central bank or other regulatory body to limit the flow of foreign capital in and out of the domestic economy. This…

The standardized requirements in place for banks and other depository institutions, which determines how much liquidity is required to be held for a certain…

A huge mistake or bad decision made by an employee that has big consequences. A career-ending move is a mistake so egregious that it would likely result…

A major accounting method that recognizes revenues and expenses at the time physical cash is actually received or paid out. This contrasts to the other…