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Lack of voting rights may keep Snap, others from MSCI indexes

Reuters  |  BOSTON 

By Ross KerberBOSTON (Reuters) - MSCI Inc has proposed leaving shares of Snap Inc and other companies including Eaton Vance Corp out of stock indexes because they lack voting rights, a sign of the rising skepticism facing corporate structures that boost the power of insiders.In a paper sent to clients in June, MSCI said its proposal aimed "to address the growing concern pertaining to listings of only non-voting shares," and invited feedback.Index providers have been reviewing the issue of whether to include companies with non-voting shares since Snap's IPO in March. MSCI's idea resembles a ...

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First Published: Mon, July 17 2017. 16:32 IST