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nominee |
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Nominee A person or firm to whom securities or other properties are transferred to facilitate transactions, while leaving the customer as the actual owner. Nominee A company, usually a brokerage, which holds legal ownership of a security while beneficial ownership is held by someone else, usually a client. Allowing the nominee to hold title to the security facilitates trade; that is, the brokerage can sell the security directly rather than needing to seek the client's permission for each transaction. The client receives all dividends and other benefits of ownership.
nominee One who is designated to act for another in a limited sense. It could be a trustee, an agent,or a straw man. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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