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Finance Dictionary and Glossary of Investment Terms
firewall
Definition 1.
The separation of banking and broker/dealer activities within the same financial institution, in order to comply with the Glass-Steagall Act.
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Definition 2.
Legal barriers that prevent both the transference of inside information and the performance of financial transactions between commercial and investment banks.
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Definition 3.
The legal barrier between banking and broker/dealer operations within a financial institution created to prevent the exchange of inside information.
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