Title company

 

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Title company

A company that performs and insures title searches. Usually selected by the seller, they sometimes work as a lender's agent. Depending on the preferences of the seller, buyer and others involved in the sale, the closing might take place at the title company's offices.



Title company

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Company representative (tied agent)

Company representative (tied agent)

A financial services sales rep, authorised to give financial advice on life assurance, pensions and unit trusts, but only allowed to recommend products from his/her employer. Unlike, IFAs, therefore, tied agents cannot be assumed to give impartial advice.Under the Financial Services Act 1986 all financial advisers must tell prospective clients whether they are tied agents or independent, so that the client knows what kind of advice he is getting.Tied agents are regulated by the Financial Services Authority (FSA).


Quoted company

Quoted company

See: 'listed company'.


Nominee company

Nominee company

A company formed by a bank or other organisation which operates nominee accounts that is, the holding of shares for the beneficial owner.


Intercompany transaction

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Transaction carried out between two units of the same corporation.


Investment company

Investment company

A company which invests the funds of small private investors in a range of securities. This enables fund shareholders to partake in ownership of a diversified portfolio of shares. Investment companies are classified as either open end (mutual fund) or closed end (investment trust).


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