BIG BANG Definition

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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AUTHORITATIVE PRONOUNCEMENT is a formal declaration of opinion sanctioned by established authority.

AD HOC is being concerned with a particular end or purpose, e.g., a ad hoc committee established to handle a specific subject.

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