blind trust

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  • noun

Words related to blind trust

a trust that enables a person to avoid possible conflict of interest by transferring assets to a fiduciary

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References in periodicals archive ?
The blind trust has served to hide Schwarzenegger's investments from himself - and also from the public.
Both flats were bought through the Blairs' blind trust, where ministers have no knowledge on investments made, although the Ministerial Code says that only strictly applies in the case of a 'wide portfolio' of interests.
The blind trust Perry created in 1996 reported a half-million dollars in losses in 2008, in what Martin, the accountant, said was most likely caused by a sell-off during the market downturns that year.
Mrs Blair also addressed the question of the use of the so-called blind trust to purchase the two flats in Bristol where the couple's eldest son, Euan, is at university.
Ms McDonagh told the Committee on Standards in Public Life in 1998 that Mr Blair's office was funded by anonymous donations to a blind trust, and that the leader's office had never been financially supported by the Labour Party 'ever in our history'.
But the letting was handled by the Blairs' blind trust and "the idea there is any conflict of interest arising from this is therefore absurd", says a Number 10 spokesman.
Margita Thompson, spokeswoman for Schwarzenegger, said all of the governor's assets are in a blind trust and she was unaware if the governor owned stock in the Austria-based company.
Frist owns up to $20 million in Columbia/HCA stock, yet has specialized in health care legislation - inviting questions about conflicts of interest, despite his having placed the stock in a blind trust.
Tory MP Mark Field wrote to Tony Blair posing a series of questions about the blind trust used to purchase the flats, including whether Mr Blair had visited the offices of a Jerseybased asset management firm.
But the Tories continued to demand answers over both the role of any officials or advisers in Mr Foster's deportation procedures and over Cabinet Secretary Sir Andrew Turnbull's advice to Mr Blair that the use of blind trust funds to buy the flats was appropriate.
Under a blind trust, an independent trustee is given the responsibility to implement the business executive's plan, without the executive's participation, for the executive's stock holdings.
The voter is expected to have blind trust in the technology.
Schwarzenegger said he will place his personal business empire in a blind trust and put his movie career aside as he looks to dedicate his complete attention to a new era in California politics and grapple with the state's economic and budgetary problems.
In every case the aura of authority of the doctors coupled with the blind trust, confusion or timidity of their patients, and the health service culture allowed these horrific, tragic abuses to take place in the first instance and continue unabated for years.
Ms McDonagh told the committee in 1998 that Mr Blair's office was funded by anonymous donations to a blind trust and that no cash came from the Labour Party's general funds.