As expected, the largest percentage of the responses, 78.7%, indicated that the person responding to the survey did not perceive nominee name or street registration to be an issue of concern.
It is intuitive that private, individually held banks with a small number of shares outstanding would have less reason to view nominee name share ownership as a major problem.
Street registration or nominee name registration represents at least two areas that should concern bank management.
Awareness should then lead to specific actions, the first of which would be to gather information regarding the registered owners of their own stock to identify any nominee name shareholders who would create potential difficulties for them.
The authors anticipate that this study will stimulate attention by the banking industry due to the potentially harmful practice known as nominee name or street registration of stock.
As participants in exchanges try to reduce transaction times for purchases and sales, time considerations alone may make it necessary to have brokers make your purchases using their nominee names (Goldsmith, 1994).
Nominee names make it difficult at best and often impossible to uncover true ownership (Waters & Donkin, 1990).