In the Margins

BlackRock wants int'l standards for shareholder voting rights

April 19, 2018

By Reuters

BlackRock on Thursday called on securities regulators to set international standards for shareholder voting rights, suggesting they resolve one of the thorniest debates in corporate governance. The asset manager made the call in a letter to index provider MSCI, which had sought comments about a proposal it is considering to adjust the index weighting of stocks like Facebook and Google parent Alphabet to account for their unequal voting structures. BlackRock said while it appreciates the index provider’s attention to the issues, MSCI’s proposed changes could distort markets. Instead, “we believe that policymakers, not index providers, should set corporate governance standards,” it stated in the letter, signed by BlackRock Vice Chairman Barbara Novick and posted on the firm’s website. Read the original story from Reuters.



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