Securities

A security is a fungible, negotiable instrument representing financial value. Securities are broadly categorised into debt securities, such as banknotes, bonds and debentures, and equity securities, e.g. common stocks and shares. The company or other entity issuing the security is called the issuer.

What specifically qualifies as a security is dependent on the regulatory structure in a country. For example private investment pools may have some features of securities, but they may not be registered or regulated as such if they meet various restrictions.