SEC begins registration of ordinary nominee firms

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SEC begins registration of ordinary nominee firms   The Securities and Exchange Commission (SEC) has asked all persons not registered by the commission as custodians, carrying on the business of nominee and holding securities on behalf of actual owners to apply to the commission for registration as nominees. SEC announced the release of the new rules in a statement on Sunday. According to the rules, the business of the nominee shall be to take title of property, money or securities in trust for and on behalf of clients as nominee…

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