Disclosure, conversion safeguards for dual class shares fall short: CFA

Singapore

SINGAPORE Exchange (SGX) has introduced numerous investor safeguards for dual class share (DCS) structures, but those for disclosures and share conversion have fallen short, CFA Society of Singapore and CFA Institute warned.

The organisation, which offers the Chartered Financial Analyst (CFA) designation, remains steadfast in the belief that "one share, one vote" is the bedrock of good corporate governance standards, and that unequal voting rights will weaken the checks and balances between shareholders and management, and immunise management against stakeholders' critics and accountability.