Broker/clearer arrangements. If you use an overseas broker (I...

Broker/clearer arrangements. If you use an overseas broker (I use a US broker as I trade overseas markets a lot) and they are only a trading participant at the ASX (rather than clearing) then they will likely have a nominee relationship with their local clearer. As little as a decade ago it was difficult even gaining franking dividends under these arrangements if they had a large omnibus account arrangement. More efficient electronic clearing systems have improved the structures.

That said other investors may well prefer their name off the company register of course and elect such an arrangement by choice - keeping take overs for example quiet until they reach the required reporting threshold.