A person named, or designated, by another, to any office, duty, or position; one nominated, or proposed, by others for office or for election to office. One remains a nominee until one has been elected or has assumed the office.
A licensed insolvency practitioner who assists in preparation of the proposal and convening of the meeting of creditors in a company voluntary arrangement or partner voluntary arrangement prior to its being approved by creditors.
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 rokers provides a special forwarding service.
The most common type of account for holding shares, especially with online brokerages. Essentially the broker will hold everyone's shares in one big pot, rather than issuing certificates for each individual holding.
An individual or company in whose name a security is registered although the real (or beneficial) ownership is actually held by another. Nominee companies are often used by share savings schemes to reduce costs and paperwork for private investors.
an institution or person under whose name it has been agreed that an investment will be held, for example, shares may be held under the name of a broker or investment fund so that it is easier to settle transactions
A person or company established to hold shares on behalf of the investor. The nominee is the legal owner of the shares. The original investor becomes the "beneficial owner" entitled to receive dividends and the capital growth of the shares, but not the automatic right to attend company meetings etc.
An official of a financial institution or some other appointed agent to whom securities or other funds are transferred by agreement with the actual owner. Nominees facilitate the collection and distribution of income from securities (when such securities are held in the name of a nominee), and facilitate the sale or purchase of securities when it may be inconvenient or impractical to obtain the necessary signature of the principal in order to conduct a transaction.... read full article
This is the name used by a person or firm such as a custodian when holding securities on behalf of another. The nominee is the legal owner and it is their name which appears in the registrar. The nominee has contractual obligations to the underlying beneficial owner.
Broker, bank or other investment institution holding securities on behalf of a particular investor. The nominee used by BNY to custodise the underlying ordinary shares evidencing the ADRs is BNY (Nominees) Limted.
Shares or investments need not be registered in the name of their Beneficial Owner. They may be registered under the name of a nominee, a practice often used to ease the administration of holding, buying and selling shares on behalf of clients.
A person, or company, in whose name the shares are held, but who holds them on behalf of the actual shareholder. A means of preserving anonymity of the actual shareholder and for institutional investors to centralise the administration or individual holdings or their private clients.
An individual or company in whose name a security is registered to be owned, although the real (or beneficial) ownership is actually held by another party. Nominee companies are often used by share investors who for some reason wish their identities to remain undisclosed or who simply require another party to manage (or hold as custodian) their investments.
Legal owner of securities that are held by a third party on behalf of the underlying beneficial owner. Nominee accounts may be pooled (ie the details of the beneficial owners are only known to the nominee company) or designated (ie individual owners' are identified on the register along with the nominee).
Person or firm, such as a brokerage house, whose name is inscribed on a security certificate if it is different from that of the beneficial owner. The purpose is to expedite transfers of title when the security is sold. The beneficial owner is the true shareholder and he retains all rights of ownership. See: Beneficial Owner; Street Name
a person appointed by the policyholder (where the life insured and the policyholder is the same person), to give valid discharge to EFU Life in respect of the benefits payable under the policy in the event of the death of the Life Insured
is the person nominated by the life assured to receive the policy money in case of the death of the life assured. However, nomination does not indicate any transfer of rights, titles and interest of the policy during the lifetime of the life assured. Nomination can be changed either through a will or by an endorsement on the policy. Nomination is normally not required in the case of a Joint Life Policy. However to protect their interests in case of a natural calamity where it is hard to establish the proof of the earlier death, it is recommended that the joint policy holders appoint a common nominee.
A new person designated to perform under a contract in the place of another. Unlike an assignment, where the original party maintains some secondary liability, the original person is relieved totally of his/her obligations by the designation of a nominee.
A shareholder who receives a Form 1099-DIV that includes amounts that belong to another person. Special reporting rules applicable to Nominees can be found in IRS Publication 564, Mutual Fund Distributions. IRS publications can be obtained free of charge by calling the IRS at 800/829-3676 (800/TAX FORM). Publications can also be viewed on the IRS website.