A rule or ethical standard. A bond which has a higher claim than other bonds from the same issuer. Also, not publicly held , as of a corporation . A company whose shares are not traded on the open market . The value of a company if each of its parts were independent, publicly traded entities.
Companies often consider the private market value of targets when evaluating a possible takeover.
The sale of securities directly to institutional investors , such as banks , mutual funds , insurance companies, pension funds , and foundations. Does not require SEC registration , provided the securities are bought for investment purposes rather than resale, as specified in the investment letter . Regulation D , restricted securities . The part of a nation's economy which is not controlled by the government. Passed in 1995, this legislation made significant changes to securities fraud litigation, introduced proportionate liability, and created new responsibilities for auditors to detect and report illegal activities.