Representatives of US pension funds are ‘disappointed’ that dual-class structures have been allowed to return to S&P Global Indices.

The Hong Kong Stock Exchange has proposed allowing widely criticised dual class shares in changes to listing rules aimed at attracting China’s big tech companies.

Index provider MSCI reveals it will broaden its consultation to “all forms” of unequal voting rights.

The US index will exclude new IPOs from their indices, where companies fail to offer investors voting rights. The move follows FTSE Russell’s decision to limit access after the controversial Snap IPO.

Institutional investors await the outcome of consultation on the role of non-voting stock in determining membership of FTSE Russell indices, following SNAP’s decision to float without a single voting share.

Differential share ownership has become a preoccupation with some tech companies but, argues Kerrie Waring, there’s little evidence that it helps companies plan for the long term.