INTERMEDIARY is the person or institution empowered to be the intermediary in making investment decisions for others. Examples: banks, savings and loan institutions, insurance companies, brokerage firms, mutual funds, and credit unions.
AUTHORIZED CAPITAL STOCK is the maximum number of shares of common stock that can be issued under a companys Articles of Incorporation. Issued shares are normally less than the number of authorized shares.
ROLL FORWARD, in accounting, it is the systematic establishment of a new accounting periods balances by using (rolling forward) prior accounting period data. There are two approaches: 1. Roll forward both asset and liabilities on a consistent basis from a consistent earlier date (possibly the last annual review) or, take the most up to date asset and liability figures as the starting point (which may be at different dates) to produce roll forward estimates of assets and liabilities; in securities, it is when an investor replaces an old options position with a new one having a later expiration date (and same strike price).
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