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

Dividends

Find out what dividends are and how they can contribute to the growth of your investment portfolio.

Synthetic ETFs

An ETF that that reproduces the return of an index through the use of swaps.

Margin call

Learn what a margin call stands for in financial terms.

Leverage

A method of trading using borrowed money that usually involves a very high level of risk.

Balance sheet

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

Income statement

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

Capital

Learn what financial capital means

52-week high/low

The highest, or lowest, price a share has traded at in a passing year.

Retail Prices Index (RPI)

An index published each month by the Office for National Statistics, which measures the level of retail prices in the UK. Cash flows on all index-linked gilts are linked to the RPI.

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Know Your Customer (KYC)