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frozen account investment & finance definition
- A bank or brokerage account that has been frozen, meaning no funds can be withdrawn. Accounts are frozen by a court or regulatory authorities for an alleged violation of a rule or law. Bank accounts remain frozen until the owner satisfies a lien against the account. Although the owner of a frozen account cannot access the funds, he or she remains the owner of the funds or investments in the account.
- A brokerage account that the Federal Reserve Board has frozen because the Board’s margin rules, outlined in Regulation T, have been violated.
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