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  "documentTitle": "MSCI Inc. (MSCI)",
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  "presentationDate": "2024-01-17 00:00:00",
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  "notes": "The slide uses highlighting to emphasize specific criticisms regarding ethics, customer treatment, and fee hikes.",
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      "text": "So in my view, the only stakeholders that they care about is the investors.",
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      "text": "Spruce Point recently interviewed a former MSCI employee and asked whether or not they believe MSCI operates ethically. We received an opinion that specifically referenced the price increases imposed on customers.",
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      "text": "I wouldn't call it ethical, I would call it, it's a culture that understands the legal constraints very well. So it's ultimately all the work is done within some kind of legal ramifications, constraints, frameworks that are acceptable. But the ethical part is it's more personal. So what you consider ethical may not be ethical to somebody else. So my personal view is too aggressive, it's just my personal view. MSCI is too aggressive for my liking in terms of the treatment of customers... And let's say you decide on MSCI index and then three years down the line or five years down the line, they come back to you and they just jerk up the fee by 50% and you are just, you are stuck, but can you change your benchmark at this time? Obviously not because you have a track record. Again, why change this benchmark? It's costly. It may cause you some reputation damage of changing the benchmark. — Former MSCI Employee",
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