Section 2035 of the tax code, which stipulates that assets that have been gifted through an ownership transfer, or assets for which the original owner…

A daily public accounting of market settlement system failures (or 'fails') published by the National Securities Clearing Corporation in compliance with…

A measure states can adopt to ensure corporations pay state taxes on 100% of their profits. Traditional state apportionment formulas base state corporate…

Tertiary capital held by banks to meet part of their market risks, that includes a greater variety of debt than tier 1 and tier 2 capitals. Tier 3 capital…

A program developed by the National Association of Securities Dealers (NASD) which allows for the reporting of over-the-counter (OTC) transactions pertaining…

A stock market order that is not executed at the best possible price according to quoted prices at other exchanges. Regulations to protect against trade-throughs…

A way of designating beneficiaries to receive your assets at the time of your death without having to go through probate. This designation also allows…

The procedure by which ownership of a stock moves from one party to another. The transfer agent follows a detailed, documented series of steps governed…

The extent to which investors have ready access to any required financial information about a company such as price levels, market depth and audited financial…

The Secretary of the Treasury is a member of the Presidential cabinet. This person is the acting head of the Department of the Treasury, and deals with…

A law that permits a court to triple the amount of damages awarded in cases where the defendant willfully acted in a prohibited way. Usually a court will…

An investment (usually a municipal bond) featuring interest payments that are exempt from taxes at the municipal, state and federal levels. Also known…

A government program created for the establishment and management of a Treasury fund, in an attempt to curb the ongoing financial crisis of 2007-2008…

A legal entity that acts as fiduciary, agent or trustee on behalf of a person or business entity for the purpose of administration, management and the…

An agreement in the bond contract made between a bond issuer and a trustee that represents the bondholder's interests by highlighting the rules and responsibilities…

A law passed in 1939 that prohibits bond issues valued at over $5 million from being offered for sale without a formal written agreement (an indenture)…

A federal law enacted in 1968 with the intention of protecting consumers in their dealings with lenders and creditors. The Truth in Lending Act was implemented…

An illegal business practice in which a majority shareholder or high-level company insider directs company assets or future business to themselves for…

The deliberate act of reporting less income or revenue than was actually received, usually for income tax purposes. Under-reporting income in order to…

A standard set of business laws that regulate financial contracts. The Uniform Commercial Code has been adopted by most states in the U.S. The code itself…

A code of conduct that governs consumer credit transactions. The Uniform Consumer Credit Code (UCCC) provides guidelines for the purchase and use of all…

A regulation that allows the parties of a premarital contract to choose the state's jurisdiction under which their contract will fall. A couple can choose…

A company that controls a single savings-and-loan association. Unitary thrifts resemble bank holding companies in some respects, but their financial powers…

A lien for which the holder has not provided a valid claim. Unperfected liens leave lenders open to the possibility that other creditors can challenge…

A former rule established by the SEC that requires that every short sale transaction be entered at a price that is higher than the price of the previous…

A law passed shortly after the September 11, 2001, terrorist attacks in the United States giving law enforcement agencies increased, broad powers to bring…

A legal term describing a situation wherein a person or company has a temporary right to use and derive income from someone else's property (provided…

A thorough and diligent review of a prospective person or project prior to a hiring or investment decision. Vetting most often refers to an individual…

Monetary reserves voluntarily held by insurance companies. Government agencies often regulate the reserve requirements of financial institutions and insurance…

A document recording a liability or allowing for the payment of a liability, or debt. A voucher would be held by the person or company who will receive…

The procedure of taking money directly from an employee's compensation under the authority of a court order, in order to pay a debt obligation. Wage assignments…

The voluntary action of a person or party that removes that person's or party's right or particular ability in an agreement. The waiver can either be…

A European term used in conjunction with the Companies Act Of 1985, which refers to a resolution that must be passed before a target company in a buyout…

A policy instituted by the Securities and Exchange Commission (SEC) that calls for the review of an entire industry whenever critical problems (such as…

A legally enforceable declaration of how a person wishes his or her property to be distributed after death. In a will, a person can also recommend a guardian…

A tax levied by governments against certain industries when economic conditions allow those industries to experience above-average profits. Windfall taxes…

Formerly known as WorldCom, now known as MCI, this U.S.-based telecommunications company was at one time the second-largest long distance phone company…

A securities trade executed on an exchange at the same price as the preceding trade, but at a lower price than the last trade of a different price. For…

A security trade that is executed at the same price as the preceding trade but at a higher price than the last trade of a different price. For more than…