A type of account in which execution-only stockbrokers tend to hold shares belonging to clients, to make buying and selling of those shares easier. Among other things, though, it does mean that any shareholder perks are unlikely to be enjoyed by the investor.
a facility whereby a client's shareholdings are not registered in his / her own name but in the nominee company of a Stockbroker, with a designation corresponding to the client's account
a facility whereby your shareholdings are not registered in your own name in the form of a share certificate, but in the nominee company of a stockbroker, with a designation corresponding to your account
a type of account in which a stockbroker holds shares belonging to clients, making buying and selling those shares easier
If you look in the JSE handbook at any company's major shareholders you will often see Standard Bank Nominees or First National Nominees listed. This means that the real shareholders, who don't wish to be known publicly, are in effect 'hiding' behind a nominee company. This makes it possible for one company looking at taking over another, to accumulate a substantial number of shares in the victim company without being identified. In London this only works to a limited degree as once you acquire 10% of any listed company you have to declare your interest publicly.
A type of account in which execution-only stockbrokers tend to hold shares belonging to clients, to make buying and selling of those shares easier. It usually mean that you do not get any direct communications from the company and will not receive its shareholder reports unless you register with its investor relations department, nor will you get any shareholder perks.
An account operated by, say, a trustee or stockbroker, which holds shares or other property for you in the name of a trustee or nominee, not in your name e.g. shares in a PEP are held in such an account.
A nominee account is where we hold your assets on your behalf. The shares you buy are registered in our name but you retain ownership of them. Holding your shares in our nominee account means settlement is quicker (three working days rather than 10 working days for certificate shares). There is also less paperwork and you don't have to worry about losing your share certificates.
Nominee accounts are set up by stockbrokers and are used for the purpose of administering assets held on behalf of their clients. Nominee accounts have become widespread since the introduction of the CREST system for share settlement.