What is 'Know Your Customer (KYC)'? Definition & meaning

A legal requirement for financial firms to understand exactly who their customers are. Used to prevent money laundering and terrorist financing.

More terms

Balance sheet

A summary of a company's finances, including its assets, liabilities and shareholder equity.

Forward pricing

Mutual funds are traded on a forward pricing basis, meaning the price you see will be different to the price you may trade at.

Beta

Learn what Beta stands for in finance.

Fundamentals

The data or information that is likely to impact a company's stock price.

UK Treasury bill

A debt instrument issued by the UK government with a maturity of less than one year.

LSE

London Stock Exchange, which was founded in 1571 and now has a market cap of almost $5 trillion.

Year to Date (YTD)

A period of time that starts with the first day of the current calendar year and ends with today.

Income statement

A summary of a company's income and expenses over a set period of time.

Venture Capital Trust (VCT)

A listed company run by a fund manager, investing mainly in private companies.e.

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Know Your Customer (KYC)