blind trust
4
5.8
- noun
- /blaɪnd trʌst/
- Specialized
:
fideicomiso ciego
- According to ethics law expert Dr. Craig Holman of Public Citizen, who advised on the complaint, Ann Romney does not have a federally approved blind trust.
- assets in a blind trust
- holdings in a blind trust
- money in a blind trust
And so I spun off DIRECTV to my shareholders and took my shares in DIRECTV and had to put them in a voting blind trust, right?
- And so I spun off DIRECTV to my shareholders and took my shares in DIRECTV and had to put them in a voting blind trust, right?
Examples
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About the blind trust for Ohju Group...
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The sensational revelations that Lord Killally and his solicitors abused a blind trust have produced calls for an inquiry at the highest level.
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You promised to transfer Ohju Group to a blind trust.
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About Ohju Group's blind trust...
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Just as I promised, the shares of Ohju Group that I own will be... transferred to a blind trust.
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To avoid potential conflicts of interest, Sainsbury pushed forward his retirement as chair of J. Sainsbury PLC, the company founded in 1869 by his great-grandfather (and today the UK's second largest supermarket chain), and put his wealth in a blind trust.
Academic text (1998) -
His financial assets are managed by a trustee in a blind trust to prevent any conflict of interest.
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To ensure transparency, the senator established a blind trust for his investments while in office.
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After taking office, she moved her shares into a blind trust to avoid any perception of impropriety.
Surface Forms
Morphology
The adjective 'blind' (without awareness) combined with 'trust' gives a reasonable general impression — a trust in which someone is kept unaware — so learners who know both words can grasp the basic idea. However, the precise legal/financial sense (a formal arrangement transferring asset control to avoid conflicts of interest) is specialized and not fully predictable from the parts, making the expression only partially transparent to a B1 learner.
Etymology
Blind trust comes from the image of handing your money to someone you must trust while being blind to the details of what they do. So a blind trust is a legal way to give assets to another person and not know or manage them yourself, often 'to avoid conflicts of interest'.