March 9, 2017 / 3:34 PM / 3 years ago

U.S. SEC commissioner raises questions about unequal voting rights

WASHINGTON, March 9 (Reuters) - One of the two current members of the U.S. Securities and Exchange Commission on Thursday raised questions about the rights of investors, specifically highlighting unequal voting rights, saying the regulator should “focus on how some innovations may prove detrimental to investors.”

“Unequal voting rights present complex and new issues that need to be understood and addressed. We also must be mindful of the precedent being created,” said Democrat Commissioner Kara Stein. “What is the effect on capital formation and emergent public companies when the bundle of rights offered to shareholders in a public offering excludes voting rights?” (Reporting by Lisa Lambert)

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