Third-Party Discretionary Account definition
Third-Party Discretionary Account means an Account where the Trading in the Account is under the control of an independent third-party who is a licensed broker, investment advisor or equivalent and where the beneficiary of the Account does not have input into the specific investment decisions in the Account. The third-party with discretionary authority must sign a statement agreeing not to accept investment direction from the Employee or designee and not to Trade in Securities in the Sector(s) and/or Practice Area(s) in which the Employee is restricted.
Third-Party Discretionary Account means an Account where the Trading in the Account is under the control of an independent third-party who is a licensed broker, investment advisor or equivalent and where the beneficiary of the Account does not have input into the specific investment decisions in the Account. Third Party Discretionary Accounts must be reported and The third-party with discretionary authority must provide a letter stating that they will not accept investment direction from the Employee or designee and not to Trade in Securities in the Sector(s) and/or Practice Area(s) in which the Employee is restricted. Third-Party Discretionary Accounts are required to be with a Designated Broker, if applicable, in your jurisdiction.
Third-Party Discretionary Account means an investment account that is structured to allow the broker or another authorized licensed professional to manage the Securities of an Employee without the need to clear the transactions with the Employee beforehand. The broker or other authorized individual must sign a statement agreeing not to accept investment direction from the Employee or designee.