On Interactive Brokers the user is “Non-Objecting Beneficial Owner” by default.
Since Trading212 is using Interactive Brokers “under the hood” does Trading212 have the same policy?
A NOBO refers to an account holder who provides its carry broker (i.e., IB) permission to release their name and address to the companies or issuers of securities they hold. These companies or issuers request this information in the event they need to contact shareholders regarding important shareholder communications such as proxies, circulars for rights offerings and annual/quarterly reports. IB, by default, classifies clients as a NOBO but allows client to have their classification changed to that of an Objecting Beneficial Owner (OBO). To do so, clients are required to provide formal notice of their request to be classified as an OBO through a Message Center ticket available via Account Management.
Since it’s not possible to vote (“The shares are held in a nominee account so having the ability to exercise voting rights is extremely unlikely at this point.”) does this means that the user of the T212 platform is not “beneficial owner” of the shares? Why?
Does this means that the user of the T212 platform (“Invest” account) is neither NOBO nor OBO?