discretionary account
Definition
Power of attorney arrangement in which a customer gives limited or complete authority to an agent (bank, broker, or investment-portfolio manager) to buy and/or sell securities or commodities on the customer's behalf—without the customer's prior approval or knowledge. Also called controlled account. See also managed account.
discretionary account is in the Banking, Commerce & Finance, Commodities & Precious Metals Trading, Corporate, Commercial, & General Law, Investing and Securities & Futures Trading subjects.
discretionary account appears in the definition of the following term: controlled account
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