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Apr 30, 1998

Suffrage suffering

US institutions are complaining that they can't easily vote their ADR holdings

There's a rumble going on among some US institutions that American depositary receipt investment isn't all it was originally cracked up to be. Sure, it means you can invest a whole lot more easily in non-US securities. But, when it comes down to voting proxies on your ADR holdings, institutions are finding that they're not quite as American as they originally thought. No surprises there, respond the depositary banks and other interested parties. And you haven't been spun a line, either. Depositary

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