What Is Separation of Powers? Separation of powers is an organizational structure where responsibilities, authorities, and powers are divided between groups rather than being centrally held. Separation of powers is most closely associated with political systems, in which the legislative, executive, and judicial powers of government are vested in separate bodies. Key Takeaways Separation of
What Is the September Effect? The September effect refers to the historically weak stock market returns observed during the month of September. In fact, September has been the worst performing month, on average, going back nearly a century. The September Effect is a case of a calendar-based market anomaly, in the sense that it occurs without
What Is Sequential Growth? Sequential growth is a measure of a company’s short-term financial performance that compares the results in a recent period to those of the period immediately preceding it. In financial reporting, sequential growth often compares results between two quarters. A company might report 3% sequential sales growth, meaning that its revenue has
What Is a Sequestered Account? A sequestered account is a deposit account that is seized through legal action or court order. Funds cannot be removed from a sequestered account without the approval of the seizing party. Sequestered accounts are usually separated from other accounts and kept in a separate file. The term sequestered account is
What Is Sequestration? Sequestration is a term adopted by Congress to describe a backup fiscal policy mechanism to enforce budgetary discipline over agreed-upon deficit reduction targets established under the 2011 Budget Control Act (BCA). Sequestration, or “the sequester,” is a procedure by which planned spending increases are moderated by pre-specified percentages if Congress fails to
What Is a Serial Bond? A serial bond is a bond issue that is structured so that a portion of the outstanding bonds mature at regular intervals until all of the bonds have matured. Because the bonds mature gradually over a period of years, these bonds are used to finance projects that provide a consistent
What Is a Serial Bond With Balloon? A serial bond with balloon is a bond for which portions of the total principal amount mature at staggered intervals and have a final payment significantly larger than the previous ones, called the balloon, owed at the end of the issue’s life. A combination of a serial bond
What Was the Series 11? The Series 11 was a securities license that allowed holders to provide securities quotations and accept unsolicited customer orders for execution. Also known as the Assistant Representative – Order Processing Examination (AR), the Series 11 was administered by the Financial Industry Regulatory Authority (FINRA). In 2018, FINRA retired the Series
What Is the Series 14 Exam? The Series 14 is a financial examination for professionals wishing to become compliance officers. In the United States, those who are primarily responsible for ensuring compliance at their firms must complete the Series 14 exam. Similarly, the exam is also mandatory for those who oversee 10 or more team
What Is the Series 24? The Series 24 is an exam and license entitling the holder to supervise and manage branch activities at a broker-dealer. It is also known as the General Securities Principal Qualification Examination and was designed to test the knowledge and competency of candidates aiming to become entry-level securities principals. Supervisory activities
