facebookHi, can anyone tell me if shareholders using a custodian are given the right to either exercise or sell the rights offering given to shareholders? Or can only the custodian firm sell these rights? - Seedly
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GSCC

Level 2

25 Apr 2020

Hi, can anyone tell me if shareholders using a custodian are given the right to either exercise or sell the rights offering given to shareholders? Or can only the custodian firm sell these rights?

What features do custodian accounts have? What can they and can't they control?

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    What are your thoughts?

    When you purchase a stock through a custodian account, the purchase is not under your name but rather, the company.
    IV a) 46. Where shares in a company are held through a nominee company or a custodian bank, the nominee company or custodian bank would be the registered member entitled to attend and vote at a general meeting of the company. Indirect investors such as foreign institutional investors are beneficial shareholders who hold the shares via a nominee company or custodian bank, and can only attend shareholders‘ meetings as a proxy of the nominee company or custodian bank.

    https://www.acra.gov.sg/docs/default-source/default-document-library/legislation/listing-of-consultation-papers/public-consultation-on-the-review-of-the-companies-act-and-regulatory-framework-for-foreign-entities/SCReportChpt2Shareholders.pdf

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