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I did not know this particular policy was under scrutiny. Could this be handled at the exchange level? Can they set voting requirements for the kinds of stocks

I did not know this particular policy was under scrutiny. Could this be handled at the exchange level? Can they set voting requirements for the kinds of stocks they will make available? Is there an SEC angle to this as well in how they classify public companies? It just seems very weird to me that a particular business arrangement which is well-understood and non-predatory would need to be outlawed.

rmrfstar 6y ago
"Need to be outlawed" and "government does not enforce" are different things. Example 1: California will not enforce non-compete covenants. What it means to enforce such covenants is that company A can have police physically prevent you from working for company B if company A requests such intervention. Refusing to grant that privilege to company A is not outlawing anything. Example 2: There is a 300 year old legal doctrine called "the rule against perpetuities" whose history and rationale may answer some of your questions. [1] [1] https://en.wikipedia.org/wiki/Rule_against_perpetuities https://en.wikipedia.org/wiki/Rule_against_perpetuities