Chancellor Rishi Sunak has included dual-class shares in a review of UK listings, with the ICGN warning that they risk lowering governance standards.

Chief investment officer at Aviva Investors calls on institutional shareholders to hold leadership teams to account, and for boards to “defend themselves” against private equity acquisitions.

Dual-class shares are causing friction between institutional shareholders and stock exchanges across the globe, and big tech firms are the driving force behind it. How will it all pan out? And how will it affect corporate governance?

Policymakers believe that investment institutions can be persuaded to take a greater role in corporate governance. But do they really possess the willingness and capacity to embrace their stewardship role?