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Home > Terms > English, UK (UE) > Discretionary account
Discretionary account
An arrangement by which the holder of an account gives written power of attorney to someone else, often a broker, to buy and sell without prior approval of the holder; often referred to as a "managed account" or "controlled account." See Controlled Account.
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- Part of Speech: noun
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- Industry/Domain: Financial services
- Category: Commodity exchange
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