Analyze_This

between blackout and restricted? Not sure there really is one, depending on context. I suppose a total blackout would mean no trading at all and restricted would mean there is a list of securities that some are restricted from trading - as opposed to a complete blackout on all securities. If there is a strict distinction between the two though I don't recall what it is, but my guess is it is hair splitting and not something you'll have to distinguish on exam day.