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Share Ownership


rammy1964

Question

I would like to be certain either way and cnt recll the answer to this.

If I acquire shares in a US company through IG do I actually own those shares and can i have them registered in my name directly with the company / Computashare as I intend to hold for the long term? Thus benefitting from any dividends in whatever format - not cash equivalents.

TIA

 

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On 15/08/2021 at 06:25, rammy1964 said:

I would like to be certain either way and cnt recll the answer to this.

If I acquire shares in a US company through IG do I actually own those shares and can i have them registered in my name directly with the company / Computashare as I intend to hold for the long term? Thus benefitting from any dividends in whatever format - not cash equivalents.

TIA

 

Hi @rammy1964,

IG operates under a custodian model,shares purchased are held by Citi in a direct custody capacity. The clients are the ultimate beneficial owners. You will receive dividends and be eligible to participate in any corporate actions such as rights issue.

If you need further information please reach out to helpdesk.uk@ig.com

All the best - Arvin

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On 16/08/2021 at 10:27, ArvinIG said:

Hi @rammy1964,

IG operates under a custodian model,shares purchased are held by Citi in a direct custody capacity. The clients are the ultimate beneficial owners. You will receive dividends and be eligible to participate in any corporate actions such as rights issue.

If you need further information please reach out to helpdesk.uk@ig.com

All the best - Arvin

ArvinIG, your answer is 100% correct, but people should know that under the custodian model (which allows IG to reduce overhead costs) they will NOT be able to vote via proxy, receive notice of AGM and most importantly, participant in SPP (stock purchase plans) offered by the company they hold shares.  

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14 minutes ago, TOMT17 said:

ArvinIG, your answer is 100% correct, but people should know that under the custodian model (which allows IG to reduce overhead costs) they will NOT be able to vote via proxy, receive notice of AGM and most importantly, participant in SPP (stock purchase plans) offered by the company they hold shares.  

Hi @TOMT17,

The reason why the custodian model is used is to protect clients shares. The shares are held in a segregated client accounts under nominee arrangements with approved custodians. This means that they’re easily identifiable as client assets and, as with cash, IG and its creditors don’t have any charge, liens, or rights of set-off or retention over them.

You can vote through Proxy voting , you will need to email the Corporate Action team before the event at corporateactions@igmarkets.com.au:

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For SPP, if you are eligible the Corporate Action team, will email you with the details of the SPP and your options. You will need to reply before a certain date for us to execute your order.

I hope that it helps !

All the best - Arvin

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