Nominee shareholder: impossible to open account


#1

In our company structure there is a nominee shareholder and the opening team seems unable to understand what it is and how it works. They insist to have information about the trust holding the shares and not about who the beneficial owner is (already provided). We have been stuck there for weeks. They escalate from one rep to the other all unable to understand such a simple concept (I provided also some links to try to explain it but nothing! They want to have the details about the nominee shareholder property structure! In my case the trust is part of a bank group, one of the biggest in the world, listed at NYSE!?!). I’ve asked to speak with a lawyer but it looks like they haven’t any available. Unbelievable. Don’t even try to open the account if you have a nominee shareholder. Will keep you updated if we will manage to go further or if I will need to drop the application in a dead end road.