Dual-class share structures involve two or more classes of authorized common stock, with one class having the traditional one vote (or, in the rare case of Snap, no votes) per share, and the other ...

This legislation, known as the Enhancing Multi-Class Share Disclosures Act, aims to increase transparency for companies with a multi-class share structure, particularly regarding their voting rights ...

Non-traded business development companies (BDCs) have long sought the ability to offer and sell multiple classes of shares with different pricing and expense structures. A multi-class structure ...

On June 11, 2025, Vanguard filed an application with the U.S. Securities and Exchange Commission for a multi-class active ETF structure. The filing requests approval of a structure where Vanguard can ...

The Securities Industry and Financial Markets Association has published guidance ahead of what is widely expected to be the Securities and Exchange Commission's granting of exemptive relief that would ...

A recent decision by the U.S. Securities and Exchange Commission (SEC) approving multi-class ETFs clears the way for the fund industry to adopt these kinds of structures more widely — which could ...