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Nominee company: Difference between revisions
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A wholly-owned subsidiary of a [[custodian]] used as a nominee company to hold legal title to client investments (other than cash). This common structure in the UK custody Market was in fact endorsed by Peter Bloxham's ''[https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/271040/PU1560_SAR.pdf Final review of the Investment Bank Special Administration Regulations 2011]'' in January 2014, the third recommendation of which was: | A wholly-owned subsidiary of a [[custodian]] used as a nominee company to hold legal title to client investments (other than cash). This common structure in the UK custody Market was in fact endorsed by Peter Bloxham's ''[https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/271040/PU1560_SAR.pdf Final review of the Investment Bank Special Administration Regulations 2011]'' in January 2014, the third recommendation of which was: | ||
{{ | {{quote| | ||
===Use of Nominee Companies=== | ===Use of Nominee Companies=== | ||
:3 FCA should consider encouraging firms, in appropriate cases, to use a wholly-owned subsidiary as the nominee company to hold legal title to client investments (other than cash).}} | :3 FCA should consider encouraging firms, in appropriate cases, to use a wholly-owned subsidiary as the nominee company to hold legal title to client investments (other than cash).}} | ||