REQUEST TO CHANGE TO OBJECTING BENEFICIAL OWNER
A Non-Objecting Beneficial Owner ("NOBO") is a security holder who allows a financial intermediary, ie. their broker, to release their name and address to the company(ies) or issuer(s) in which they have bought securities. Companies and issuers request this personal information so they can contact the shareholder directly regarding important shareholder communications (such as proxies, circulars for rights offerings and annual/quarterly reports). Shareholders may request to opt-out of receiving these additional communications by requesting their broker change their status to OBO.
An Objecting Beneficial Owner ("OBO") is a Beneficial Owner who does NOT give permission to a financial intermediary, ie. their broker, to release the owner's name and personal information to the company that issued the securities.
IBKR, by default, classifies clients as a NOBO but allows clients 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 Client Portal. To access the Message Center, click the Help followed by Secure Message Center. Select COMPOSE followed by New Ticket, then select Account Services as the ticket category followed by Proxy/Shareholder Meetings and type "Objecting Beneficial Owner" as the subject.
Please Note
- NOBO/OBO designation is simply a privacy matter, and does not affect shares being registered or not. Shareholders will still receive all shareholder materials, shares are still held in Interactive Brokers name (on street-side) and shareholders can still vote their shares no matter which designation they choose.
- There is no cost to changing.
- In Europe, there is no such NOBO/OBO distinction under SRDII.