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CTRs (Currency Transaction Reports) are required filings to the Financial Crimes Enforcement Network (FinCEN) to report all transactions and deposits in cash (in any currency) worth over $10,000.
This includes multiple transactions that add up to over $10,000. This rule is closely tied to Anti-Money Laundering (AML) rules and reporting requirements which have become more stringent since the turn of the century.
Banks are required to submit reports for all transactions over $10,000 in cash, whether it is a deposit, withdrawal, or other transaction. Most banks have systems to automatically submit these reports, which will also include any relevant information about the customer that they have on file.
These reports do not necessarily imply that anything suspicious has taken place, but if an employee of a bank or other institution believes that this is the case, they can also file a Suspicious Activity Report (SAR). These rules all stem from the Bank Secrecy Act of 1970, which was aimed at curtailing money laundering from domestic and foreign entities.
Fixed annuities are products that give the purchaser of the annuity the guarantee of fixed income payments for life
Lump Sum distributions can allow you to invest according to your preferences, but could also be spent in a short period
Investing in commodities is a little different than stock market investing. You can get exposure by investing in ETFs
The Bid-Ask Spread is the amount by which the ask price exceeds the bid. For example, if the bid price is $50 and the…
Dilution is the disassociation of value from current common stock shares due to the issuance of additional shares
In a financial statement, “Pro Forma” refers to how figures are presented either in present form or as projections
In order to solicit orders for any type of security, a broker or representative must pass the Series 63 examination
A bond rated BB/Ba2 is just below investment grade and is a somewhat speculative financial instrument
Bank fees are penalties or maintenance requirements that may apply to checking, savings, or money market accounts
Earnings power is mostly a concept that investors talk about rather than a quantifiable amount, but there is a Basic...