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# Regulated Company

## Definition

A trading company that admits members upon payment of fees and adherence to company regulations, but allows each member to trade on their own account rather than pooling capital into a common stock.

## Source Chapter

Book V, Chapter 1

## Context

One of two forms of joint-stock companies, contrasted with joint-stock companies, representing a middle ground between completely free trade and monopolistic trading companies with exclusive privileges.

## Economic Domain

Exchange

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