Explainer: What is a Nominee Account?

onMay 10, 2018 @ 06:18 PDT

A nominee account allows a stockbroker to hold shares on behalf of a client, making buying and selling those shares easier. The investor remains the only beneficial owner of the shares.

This may be a way for the investor to make it more difficult for anyone to find out how many shares he/she owns in a company since the name of the investor does not appear on the company’s register of shareholders.

It also allows investors to own shares without being involved with any of the paperwork.

The stockbroker is also able to move or sell shares from the nominee account at any time, a mechanism that enables fraud as regulators are not able to check on nominee accounts holdings daily.

Read DeSmog UK‘s Empire Oil series:

Part One – Black Gold’: London’s African Oil Hub

Part Two – T aking AIM: London’s Wild West Stock Market

Part Three – E xposed: The Elite ‘Boys Club’ Running London’s Opaque Oil Network

Image Credit: Ken Teegardin/Flickr/CC BY–SA 2.0

By Chloe Farand

World’s Biggest Meat and Dairy Companies Spend More on Ads than Cutting Emissions — New Report

ByClare Carlile and Brigitte Wear

onJul 22, 2024 @ 06:35 PDT

Brazilian meat giant JBS invested just 0.03 percent of annual revenues into climate measures, researchers found.

us/Big Oil Rallies to Obstruct Accountability

ByEmily Sanders

onJul 19, 2024 @ 11:57 PDT

Fossil fuel interests are deploying unprecedented strategies to hide evidence of companies’ deception and block liability lawsuits before they reach trial.

us/Environmental Groups Challenge New Rules on Toxic Air Pollution from Plastic and Chemical Plants

BySharon Kelly and Julie Dermansky

onJul 19, 2024 @ 11:25 PDT

Federal lawsuit alleges EPA’s rules on ethylene oxide and chloroprene emissions rely on weak industry estimates rather than real-world data on risks to health.