Glossary of Municipal Securities Terms

BENEFICIAL OWNER

The person to whom the benefits of ownership of given securities accrue, even though the securities might be held by, or in the name of, another person or held in an account over which another person has investment discretion. Typically, a securities firm might hold securities in “street name” at a securities depository with the beneficial owners of the securities only designated on the firm’s records. Compare: BONDHOLDER.

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