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 ?
According to the indictments, drug proceeds would be transmitted by wire transfer to a Mexican source of supply using nominee names. A nominee name is used to hide the true recipient of the money.
CS asked to resubmit PU VC summary by writing nominee names on seniority
"In furtherance of the scheme, Manafort and Gates funnelled millions of dollars in payments into foreign nominee companies and bank accounts, opened by them and their accomplices in nominee names and in various foreign countries, including Cyprus, Saint Vincent and the Grenadines, and the Seychelles," the indictment added.
"It was important for me to use the design to depict the correlations between the artforms, dates and the nominee names. I was delighted to be selected to design this year's artwork for the Jaguar Land Rover Cultural Champions for Arts & Business Event."
One channel of XPression played a keyable HD trophy animation with nominee names, while the other channel played a HD matte, which revealed DVE boxes with stars in the audience.
Nominee names can be submitted either by: FEI national office, FEI local chapters and chapter members, sponsors, self-nominations and others via FEI's dedicated website for nominations.
Even a search of share registers would not turn up much information as the shares would usually be held in the nominee names of the various banks.
``From offshore bank accounts in nominee names and offshore companies, to the use of false names and trading entities and even a hole in the garden as a cash safety deposit, the defendant went to extraordinary lengths to hide a decade of undeclared, untaxed accumulated riches.''
But an increasing number of firms are opening up their schemes and brokers are making it their business to ensure their nominee names get their fair share of perks.
But an increasing number of firms are not only opening up their schemes, but brokers are making it their business to ensure their nominee names get their fair share of perks.
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).