Many small-time stock investors hold individual accounts in the Central Depository (CDP) instead of joint accounts.
For these investors, who usually do not make a will concerning the assets in their accounts, their family members may face problems accessing the stocks when they die.
CDP should offer a nomination service, similar to the one the Central Provident Fund Board provides for its account holders.
The CDP service should apply to only a "sole nominee", unlike the CPF's, where the money can be distributed to a few nominees.
As shares are not cash, it would be difficult to distribute them to a few nominees.
Joint account holders would have no such problems as either holder can operate the account. So it is advisable to open a joint account with CDP for shares trading.
Tan Kwong Moh