BIG BANG Definition

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BIG BANG are changes in UK stock exchange practices that took place in 1986. They permitted institutions such as banks and insurance companies to own stock exchange subsidiaries, abolished the segregation between brokers and jobbers and ended the system of fixed commissions.

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REPRESENTATION EXPENSES are those expenditures whose character and primary purpose is for representational or entertainment related activities, including receptions or banquets.

PROPRIETARY is an account, item, or information belonging to a company or individual. See PROPRIETARY ASSET.

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