Discretionary Account definition

Discretionary Account means a Personal Account in which you have completely turned over decision-making authority to a professional money manager (who is not a Family Member or not otherwise covered by this Code) and you have no direct or indirect influence or control over the account. (Such Discretionary Accounts are often referred to as “professionally managed,” “controlled” or “managed” accounts.)

Discretionary Account means a Personal Account as to which a representative of a Security Fiduciary has complete authority to enter into purchases or sales of Securities on behalf of the person who has Beneficial Ownership of the Personal Account without first seeking the permission of such person to make such purchase or sale. A Personal Account becomes a Discretionary Account when such person has given the Security Fiduciary as to such Account, written authority to make investment decisions and purchase and sell Securities for such account. A Discretionary Account allows the Security Fiduciary for such account, in such Fiduciary’s discretion, to decide (a) when to buy or sell Securities, (b) what Securities to buy or sell, and (c) the price to pay or receive for Securities bought or sold for such account.

Discretionary Account means a commodity futures or commodity op- tion trading account for which buying or selling orders can be placed or origi- nated, or for which transactions can be effected, under a general authorization and without the specific consent of the customer, whether the general author- ization for such orders or transactions is pursuant to a written agreement, power of attorney, or otherwise.

Examples of Discretionary Account in a sentence

• Only transactions where the investment decisions for the account are made by an independent investment manager in a fully Discretionary Account (including managed accounts) will be exempt from the pre-clearance procedures, except for those transactions that are directed by an employee in a Jennison managed account.

• In addition, to qualify as a Fully Discretionary Account, the individual broker, registered representative or merchant responsible for that account must not be responsible for nor receive advance notice of any purchase or sale of a Security or Futures Contract on behalf of an Advisory Client.

• Purchases or sales of Securities made in a Discretionary Account do not require pre-approval.

• Except under certain circumstances, a Covered Person is not required to preclear transactions in a Discretionary Account.

• Futures, Options, and Spread Betting In France, the prohibition relating to futures and options does not apply to transactions completed through a Discretionary Account or transactions involving units or shares of a mutual fund which is not governed by Articles L.214-35-2, L.214-37, L.214-42 and R.214-32 of the French Monetary and Financial Code.

More Definitions of Discretionary Account

Discretionary Account means any Client Account that has granted the Firm (a) discretionary proxy voting authority, or (b) discretionary investment authority without expressly retaining proxy voting authority. All Investment Funds are Discretionary Accounts.

Discretionary Account means an Employee Related Account in which the individual has contractually authorized the broker or advisor to have full investment discretion over the account and trade securities in the account without prior consent for each transaction.

Discretionary Account means a Reportable Account over which:•You or a Family Member has no direct or indirect influence or control and•A person or entity not subject to the Code has sole investment power.

Discretionary Account means a brokerage account in which the Access Person has delegated authority to a financial adviser or broker to buy and sell securities for the account without the prior approval of the Access Person.

Discretionary Account means an account where an Employee or Related Person does not participate in recommending or making the investment decisions, or have any direct or indirect influence over the account. The circumstances of such accounts must be disclosed in writing and approved by the compliance officer.

Discretionary Account means a separately-managed trading account in which securities are purchased and traded by a manager in the name of the Access Person but without any direct or indirect control exercised or exercisable by the Access Person other than the ability to open or close the account.

Discretionary Account means an account where the client has authorized another person(s) to trade that account on the client’s behalf.