Nominee

Nominee,

Definition of Nominee:

  1. A nominee is a person or firm into whose name securities or other properties are transferred to facilitate transactions while leaving the customer as the actual owner. A nominee account is a type of account in which a stockbroker holds shares belonging to clients, making buying and selling those shares easier. In such an arrangement, shares are said to be held in street name.

  2. Entity (the registered owner) in whose name securities or other assets are recorded and held under a custodial agreement with the actual owner (called beneficial owner). Such arrangements are used where the beneficial owner is abroad, wishes to conceal his or her identity, or to facilitate a trade or collection of income from several securities. Banks, brokerage houses, and trust companies are usually appointed registered owners. Use of nominees, however, does not alter the position of the beneficial owner with regard to tax liabilities and reporting requirements.

  3. A person who is proposed or formally entered as a candidate for an office or as the recipient of a grant or award.

  4. Entity named or appointed by another (the nominator) to act on its behalf in a limited capacity or in a specific matter.

  5. A person or company whose name is given as having title to a stock, real estate, etc., but who is not the actual owner.

  6. Nominee accounts are the most common method for holding stocks. Stockbrokers prefer nominee accounts because they reduce costs and increase trading efficiency.

Synonyms of Nominee

Applicant, Job applicant, Job-seeker, Prospective employee

How to use Nominee in a sentence?

  1. You must carefully think about each of the nominee s when you want to award someone with the coveted position or title.
  2. A nominee in financial trading refers to a person or company who has been entrusted with the safekeeping of investors' securities.
  3. An offshore nominee company.
  4. The nominee company should be a third party that is separate from the broker itself; all of your investments are held in its name, while you retain control.
  5. The securities are held in trust and the nominee is the legal owner, but you hold on to real ownership as the beneficiary.
  6. An Oscar nominee.
  7. The broker can buy and sell on your behalf, but creditors can't get to your money if the brokerage goes belly up or your broker tries to swindle you.
  8. The nominee of the individual was able to accept the recognition formally and discuss the future plans of the firm in detail.
  9. I heard that my film would be a nominee for best picture, but I did not think so because it required a lot of press.

Meaning of Nominee & Nominee Definition