This comes directly from the header of the NOBO Listing board here at iHUB. It's not a link, but it looks and sounds like THEY copied it from a link. You'll have to ask them where they got it. The link to their board is at the bottom of this post.
-------------------------
The NOBO/OBO SystemThe names of the ultimate beneficial owners of street nameshares - i.e., the customers of the brokers and banks who havedeposited the shares with DTC - are maintained by the brokersand banks, not by companies themselves. Recognizing that thissystem left companies without direct contact with a largeproportion of their beneficial owners, the Commission adoptedrules in 1983, which went into effect in 1986, requiringbrokers and banks to provide companies with lists of "nonobjecting beneficial owners" (or "NOBOs") who did not object tohaving their names and addresses supplied to companies.17Objecting beneficial owners (or "OBOs"), which constitute anestimated 75 percent of shares held in street name,18 still maybe contacted directly only by the broker or bank, or its agent.Although companies may mail proxy materials directly to NOBOs,as a practical matter they never do so, because current SECrules require companies to forward proxy materials throughbrokers and banks regardless of whether they are also maileddirectly.19 Therefore, companies only use NOBO lists to mailout supplemental materials, annual reports and quarterlyreports, which do not have to be mailed through brokers andbanks.20 Furthermore, because only the brokers and banks arelegally entitled to vote shares held in street name, companiescannot use NOBO lists to enable beneficial owners to votedirectly with the company.
News 
Market Data 
Discover 
AI
