Due Diligence
Due diligence is the performance of an investigation prior to entering into a proposed transaction with another party. The auditor examines all relevant facts, conditions, rules, laws, regulations, and financial considerations pertinent to the situation under review.
Joint Tenancy With Right of Survivorship (JTWROS)
Joint tenancy with right of survivorship is a form of real estate ownership. Under JTWROS, two or more tenants share an undivided interest in a property. Also, each tenant has equal rights and obligations. Intrinsically, this type of arrangement creates a right of survivorship. Therefore, if one owner dies, his or her interest automatically transfers to the surviving owner(s).
Know Your Customer (KYC)
“Know Your Customer” is a New York Stock Exchange rule. KYC requires member firms to obtain essential background information about their clients. Prior to opening an account, broker-dealers must verify each customers’ investment knowledge, risk tolerance, and financial profile.
