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 Glossary   >   N   >   "Nominee" Definition   

        Nominee

A person or firm into whose name securities or other properties are transferred in order to facilitate transactions, while leaving the customer as the actual owner.

A person or company nominated by another to hold shares on his behalf. The most common use of nominee accounts is where execution-only brokers act as nominees for their clients. The shares are registered in the name of the broker, but the client has beneficial ownership of them. The advantage of nominee accounts is that they make settlement quicker and more streamlined. In theory, dealing costs should be lower. There are some disadvantages: because the individual isn"t the registered owner of the shares, he doesn"t get sent company reports and accounts, and can"t take advantage of shareholder perks, unless his brokers provides a special forwarding service.

Nominee
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Nominee - A person or firm into whose name securities or other properties are transferred in order to facilitate transactions, while leaving the customer as the actual owner.

A person or company nominated by another to hold shares on his behalf. The most common use of nominee accounts is where execution-only brokers act as nominees for their clients. The shares are registered in the name of the broker, but the client has beneficial ownership of them. The advantage of nominee accounts is that they make settlement quicker and more streamlined. In theory, dealing costs should be lower. There are some disadvantages: because the individual isn"t the registered owner of the shares, he doesn"t get sent company reports and accounts, and can"t take advantage of shareholder perks, unless his brokers provides a special forwarding service.


Nominee : a person or firm into whose name securities or other properties are transferred in order to facilitate transactions, while leaving the customer as the actual owner.

a person or company nominated by another to hold shares on his behalf. the most common use of nominee accounts is where execution-only brokers act as nominees for their clients. the shares are registered in the name of the broker, but the client has beneficial ownership of them. the advantage of nominee accounts is that they make settlement quicker and more streamlined. in theory, dealing costs should be lower. there are some disadvantages: because the individual isn"t the registered owner of the shares, he doesn"t get sent company reports and accounts, and can"t take advantage of shareholder perks, unless his brokers provides a special forwarding service.