Dual-class shares (DCS) provide some owners with superior voting rights, giving them voting control over a company that is disproportionate to their equity shareholding. Commonly they are found in founder-led companies allowing founders to maintain control while giving investors an opportunity to participate in the company’s growth.

In this seminar Mary Leung from the CFA Institute (Head of Advocacy for the Asia Pacific Region) will review the debate for and against DCS, look at the performance of DCS companies over time, and examine the implications for policymakers. She will cover the historic development of DCS in the United States, review regional developments, and assess common safeguards.

Topics include:
• Safeguards that investors can rely on
• Lessons learned that are most applicable for investors, standard setters and regulators in Asia-Pacific
• Where investors should look for investor protection

Fee: There is no charge thanks to sponsorship from AUT and CFA Institute Asia-Pacific Research Exchange (ARX). Register to receive ARX updates

Venue: AUT Business School, Room WF503 (WF building, level 5), 42 Wakefield St, Auckland view map

SPEAKER
Mary Leung, CFA
Head, Advocacy, APAC, CFA Institute

Mary is responsible for the development, maintenance, and promotion of capital markets policy perspectives in the APAC region. She has over 20 years of experience in the global financial industry, having worked in corporate finance, wealth management advisory, and fund management. Previously, she was with Coutts & Co, where she was a director of Business Development and Management for North Asia. Prior to that she was an executive director at UBS AG, where she led the Corporate Advisory Group in Hong Kong.

With experience in both buy and sell-sides, Ms Leung has a strong understanding of the drivers and dynamics of different investor groups, including institutional investors, corporates, family offices, asset owners, and high-net-worth individuals. Ms Leung graduated from Peterhouse, Cambridge with a degree in Engineering and is a CFA charterholder.