Churn, in the context of stock trading, means making numerous risky and excessive transactions to generate high commissions against the customer's character of account and objectives by a broker.
See: Churning
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law and economics
churning
Churning is an unethical business practice by some stock brokers which occurs when a broker, exercising control over the volume and frequency of trades, abuses their customer’s confidence for personal gain by initiating transactions that are...
CIF
CIF is an abbreviation used for Cost, Insurance and Freight. CIF is an agreement in which the seller's quoted price includes insurance and all other costs up to a designated port of destination. The term is used in the context of maritime...
cigar
For the purposes of taxation and FDA regulation, “cigar” means “any roll of tobacco wrapped in leaf tobacco or in any substance containing tobacco” unless, “because of its appearance, the type of tobacco used in the filler, or its packaging...
cigarette
For the purposes of taxation and FDA regulation, a cigarette is defined in 26 U.S. Code § 5702 as
“any roll of tobacco wrapped in paper or in any substance not containing tobacco, and any roll of tobacco wrapped in any...
classical theory of insider trading
The classical theory of insider trading is a form of insider trading where a corporate insider—i.e. an employee, director, or officer—commits securities fraud under Rule 10b-5 by trading in securities of their company on the basis of material...
collusive bidding
Collusive bidding refers to an agreement among two or more competitors to change the bids they otherwise would have offered absent the agreement. Where collusive bidding is well established, prices can rise substantially, in some cases by as...
comfort letter
Comfort letters are statements from an issuer’s auditor that the auditor reviewed the issuer’s financial data and assures its accuracy.
In public offerings, underwriters generally request comfort letters to establish a due...
commerce
Commerce refers generally to the activity of exchanging products, goods, and services for financial gain. The word commerce usually is used to mean economic activity broadly on a national or other large scale. Commerce can be used in many...
Commerce Clause
The Commerce Clause refers to Article 1, Section 8, Clause 3 of the U.S. Constitution, which gives Congress the power “to regulate commerce with foreign nations, among states, and with the Indian tribes.”
Congress has often...