Vlad Tenev Says Shareholder Rights Should Remain With Securities Issuers

Robinhood CEO Vlad Tenev said securities issuers should retain control over shareholder rights while supporting separate products that track the value of publicly traded shares.

Tenev Outlines Position on Shareholder Rights

In a post on Friday, Tenev argued that companies issuing securities should remain responsible for shareholder rights and related corporate governance matters.

At the same time, he distinguished those rights from products designed to track the performance of publicly traded shares. Such products may mirror a stock’s market exposure without granting holders the legal rights attached to direct ownership.

Distinction Between Ownership and Market Exposure

The distinction is relevant to the development of tokenized securities and other blockchain-based financial products. A product that tracks a publicly traded share can provide exposure to its price movements, while direct shareholders may receive voting rights, dividends, or other benefits determined by the issuer and applicable regulations.