I am wondering if there is any appetite here for this debate - and to keep it simple the assumption is about shares bought in NZX-listed companies.  There is no doubt in my mind that the shares are owned by the Sharesies customer, but said customer does not appear on the company share register.

Sharesies Ltd and Sharesies Nominee Ltd are both limited-liability companies and as I understand it for each Sharesies account-holder the money in your wallet is held in a trust account and the shares you own are held in 'bare trust'.  Creditors of both companies (including a liquidator if it comes to that) cannot access these funds (wallet) or assets (shares).

If either company fails, what happens to my shares?  I know the creditors cant get them - but what actually happens in these circumstances?

There is also the prospect that in the future, Sharesies Nominee Ltd will own a substantial shareholding in any one company.  That is a single block of shares, presumably with voting rights where the whole block is voted or not (abstains from voting).  Can Sharesies Nominee Ltd vote parts of its shareholding for and other parts against a decision up for shareholder approval (based on the wishes or all Sharesies customers who own those shares)?  Most companies have a constitution requiring shareholder approval of major decisions (such as takeover offers) so eventually issues such as this will matter.

Sharesies is my first venture into share trading, and I do this on a small scale where I can afford a total loss.  My motivation here is to extend my knowledge of how things work.