short-kiting n.— «Naked short sellers do not have to borrow the stock. Thanks to smart lobbying by certain hedge funds, the rules have been subtly bent to say that “a broker dealer must have reasonable grounds to believe that the...
wrap fee n.— «It allows broker-dealers to charge fees based on assets under management (sometimes referred to as a “wrap fee”) rather than product commissions—just as the registered investment advisers do. If the client’s...