Trading Authorization

Little Old Maybell Bluehair just can't think straight any more, at least when it comes to managing her considerable money. Husband #4 was loaded and had a weak heart...and one too many cheeseburgers.

Maybell trusts her grand nephew Beauregard to make trades on her behalf and has given him "trading authorization" to manage her account—that is, he can make trades without pre-clearing each one with her.

His status is analogous to having "power of attorney" in doing various legal things in life.