The Globe and Mail reports in its Friday edition that one of two current members of the U.S. Securities and Exchange Commission is questioning the likes of Snap Inc. for offering shareholders unequal or no voting rights, saying the agency should "focus on how some innovations may prove detrimental to investors." A Reuters dispatch to The Globe quotes commissioner Kara Stein, a Democrat, as telling a meeting of the SEC's investor advisory committee in Washington: "Unequal voting rights present complex and new issues that need to be understood and addressed. We also must be mindful of the precedent being created." In a unique move last week, the parent of social media app Snapchat sold $3.4-billion (U.S.) of shares to outside investors with no voting rights, prompting concerns that those shareholders would not get enough transparency or influence on matters such as executive pay or strategy. The topic of unequal voting rights comes at a time of uncertainty for the SEC. Three of its five commission seats are empty and the sole member other than Ms. Stein, Republican Michael Piwowar, is its acting chairman.