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Simple English definitions for legal terms
customer's person
Read a random definition: Dodd-Frank: Title II - Orderly Liquidation Authority
A quick definition of customer's person:
A customer's person is someone who represents or acts on behalf of another person, group, or organization. This can include a registered representative who sells securities to the public, an executor who manages the legal affairs of someone who has passed away, or a class representative who sues on behalf of a group of plaintiffs in a class action. Essentially, a customer's person is someone who is authorized to act on behalf of someone else.
A more thorough explanation:
A customer's person is a representative who acts on behalf of another person. This can include a registered representative who sells securities to the public or an accredited representative who has been granted authority to act on behalf of a group or organization.
For example, a registered representative approved by the SEC and stock exchanges can sell securities to the public. This person is also known as a customer's man or customer's person. Another example is a class representative who sues on behalf of a group of plaintiffs in a class action lawsuit.
These examples illustrate how a customer's person can act on behalf of another person or group, with designated authority granted by law or by the rules of the organization.