Shares held in SelfWealth will be 'broker/CHESS-sponsored' and registered with the ASX in your name as the beneficial and legal owner of the holdings. With CHESS sponsorship, your holdings are protected in the event of any issues with your broker/CHESS sponsor.
Who is the CHESS Sponsor for SelfWealth?
SelfWealth has engaged OpenMarkets as our market participant and CHESS sponsor, therefore your SelfWealth account will be sponsored by OpenMarkets.
Once your account has been approved and a Holder Identification Number (HIN) has been generated for you and linked to your SelfWealth account, you will receive a CHESS statement in the mail confirming that your account is sponsored by OpenMarkets on behalf of SelfWealth.
Please note: if you have 'issuer sponsored' holdings (i.e. shares that aren't broker/CHESS-sponsored and attached to a HIN), these shares will need to be transferred to your HIN before they can be sold or listed in your SelfWealth account.