Big asset managers like BlackRock are pressuring stock exchanges to limit a growing practice that ‘poses danger’ to young companies

Mark Lennihan/AP

  • BlackRock, CalPERS and other influential governance critics are asking two stock exchanges for more fairness in voting rights. 
  • A group representing funds and firms petitioned the New York Stock Exchange and NASDAQ on Wednesday to limit companies’ trading if they have unequal voting structures. 

A group that represents big funds like BlackRock and the California State Teachers’ Retirement System is seeking to limit what it deems unequal voting rights at public companies.

In Wednesday letters, the Council of Institutional Investors asked Nasdaq and the New York Stock Exchange to limit newly-listed companies’ trading time if they fail to give equal voting to investors. 

See the rest of the story at Business Insider

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