BEARER SECURITY
\bˈe͡əɹə sɪkjˈʊ͡əɹɪti], \bˈeəɹə sɪkjˈʊəɹɪti], \b_ˈeə_ɹ_ə s_ɪ_k_j_ˈʊə_ɹ_ɪ_t_i]\
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A security that can be transferred or redeemed by the holder, who may or may not be the BENEFICIAL OWNER. Many securities are issued in bearer form, which eliminates the time and expense associated with reregistration. See also REGISTERED SECURITY.
By Henry Campbell Black
