Nominee Account
Definition
What is Nominee Account?
An account where a nominee is the registered holder while the investorA person or organisation that commits capital with the expectation of a financial return. remains the beneficial ownerThe natural person who ultimately owns, controls, or benefits from an account or investment..
Example in practice
How This Looks in Practice
The broker's nominee appears on the register for administrative convenience.
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Related Terms
Fiduciary Duty
A legal or ethical duty to act loyally and carefully in another person's best interest.
Regulation & ComplianceSuitability
The requirement or process of determining whether an investment fits a client's circumstances and objectives.
Regulation & ComplianceBest-Interest Standard
A duty to place the client's interests ahead of the provider's when making a recommendation.
Nigeria InvestingNigerian Exchange
Nigeria's principal securities exchange, where listed shares, bonds, ETFs, and other instruments trade.