financial asset

financial asset
USA
Any of the following:
• A security.
• An obligation of a person or a share, participation, or other interest in a person or in property or an enterprise of a person, which is, or is of a type, dealt in or traded on financial markets, or which is recognized in any area in which it is issued or dealt in as a medium for investment.
• Any property held by a securities intermediary for another person in a securities account if the securities intermediary expressly agrees with the other person that the property is treated as a financial asset under UCC Article 8. As the context requires, the term means either the interest itself or the means by which a person produces evidence, including a certificated or uncertificated security, a security certificate, or a security entitlement.
See (UCC §8-102(a)(9)).
Exceptions to the definition of financial asset are specified in UCC §8-103 which sets out the rules for determining whether certain obligations and interests are securities or financial assets.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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