14.3.3. Trading Authority
The owner is the only one who can trade in the account, unless trading authority has been granted to a third party. There are three kinds of third-party trading authority:
1. Limited trading authority allows a third party to trade in the account, but not to make withdrawals.
2. Full trading authority gives a third party authority to trade and to make withdrawals.
3. Discretionary authority gives the representative authority to trade in the account without prior permission by the customer. Discretionary authority contains an implicit limited trading authority within it.
Without discretionary authority, a representative needs three pieces of