What does the term “Hold in Street Name” mean?
This is the term given to securities held in the name of a broker on behalf of a customer (the “Beneficial Owner”). 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. “Beneficial Owner” is the term given to a person who benefits from ownership of a security or mutual fund. Shares or title may be held by a bank or broker for safety and convenience or in “street name” to expedite transactions, but the real owner is the beneficial owner. (Please reference Questions 8 & 9 above for related information).
