Street Name
Said of securities held in the name of the broker-dealer rather than in the name of the client. The client remains the beneficial owner. All dividends that would otherwise be mailed directly from the company to the stockholder are credited to the client’s account or forwarded as the client directs. Corporate reports and proxy statements are forwarded to the customer. This arrangement allows shares to be transferred easily. If the stock were registered in the customer’s name rather than the broker’s name, physical certificates would need to be transferred.
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