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

A person or an organization in whose name a security is registered even though true ownership is held by another party.

nominee

a company or trust which holds FINANCIAL SECURITIES on behalf of a person or other company. Nominees may be professional investment managers who hold portfolios of financial securities on behalf of investors (see UNIT TRUST). Alternatively nominees may be used to buy and hold shares in a particular company on behalf of investors who wish to remain anonymous (often prior to making a TAKEOVER BID for the company). However, UK company law provisions on the DISCLOSURE OF SHAREHOLDINGS make it difficult for a BENEFICIAL OWNER to accumulate large blocks of shares in a company without being forced to reveal his identity. See SHARE REGISTER.

nominee

One who is designated to act for another in a limited sense. It could be a trustee, an agent,or a straw man.

References in periodicals archive ?
1,138,068 HSBC Global Custody Nominee (UK) Limited A/c 847452
The nominee ministers are expected to show up in person in the parliament before the MPs decide to begin the voting process.
Presidential Use of Public Appeals on Behalf of Judicial Nominees
Host Ellen DeGeneres, left, danced a jig in honor of the nominees while, above from left, Jack Black, John C.
25 that four bishops have been nominated for the position of presiding bishop, including the first female nominee.
By contrast, the Senate confirmed 204, or 95%, of Bush's nominees for judgeships in his first term.
Further information on either the technology awards or the 2005 executive committee nominee slate is available from the Rubber Division (330) 972-7814.
So fawning has the President been in courting Republican approval that, as of mid-1996, 182 of 187 Clinton judicial nominees that had come to a Senate vote were approved without any Republican opposition.
Elgamal, Ramius' nominees are independent industry experts who are more qualified to oversee the Company at this critical time.
684,826 HSBC Global Custody Nominee (UK) Limited A/c 739874
Previously announced presenters include: current nominee Marc Anthony ; nominees Black Sabbath ; three-time GRAMMY winner Zac Brown ; nominee Gloria Estefan ; actor Anna Faris ; GRAMMY and Academy Award[sup.
best supporting actor nominee for ``Little Miss Sunshine''