Nominee Name


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Nominee Name

A name that is used by the corporation as a generic registered owner on a stock or bond certificate. The use of nominee names makes the processing of security transfers easier.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Nominee Name

The brokerage or other company that is the legal owner of a security held on behalf of a client. Even though the client is the actual owner, the nominee holds title to the security because this makes the legalities of transferring the security easier if and when it is sold. The nominee must turn the security over to the client if requested. The nominee name is also called the street name. See also: Beneficial Ownership, Safekeeping.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

Nominee name.

Nominee name is the name that a brokerage firm uses to register ownership of stocks or bonds it holds for investors.

Holding stock in a single generic name, sometimes known as street name, makes it easier to transfer ownership when the securities are traded.

Dictionary of Financial Terms. Copyright © 2008 Lightbulb Press, Inc. All Rights Reserved.
References in periodicals archive ?
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).