WASHINGTON, March 9 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)