Flexibility and investor protection in share class structures

Flexible equity structures, including multiple-voting and non-voting shares, are increasingly allowed by jurisdictions and used by companies seeking greater flexibility in balancing ownership, control and long-term strategic objectives. While these structures can support innovation and capital market development, they may also amplify governance challenges, particularly where minority shareholder protections are less robust. This policy brief examines the policy implications of flexible equity structures and discusses how regulatory frameworks can strike an appropriate balance between flexibility and investor protection, consistent with the G20/OECD Principles of Corporate Governance.