NO.PZ2018062002000106
问题如下：
Who owns the voting rights of the shares when investing in unsponsored depository receipts?
选项：
A. The depository bank.
B. The issuer of the shares held in the trust.
C. The investors in the depository receipts.
解释：
A is correct.
For an unsponsored DRs, the depository bank has the voting rights to the shares.
考点：Private Equity and Non-domestic Equity Securities
DR分为参与型和非参与型。参与型DR即sponorsed DR是指外国公司直接参与DR的发行。购买DR的投资者与普通股投资者一样，直接享有股票的权利(例如投票权和分红权)。而非参与型DR也就是unsponorsed DR，外国公司不直接参与DR的发行。而是由托管银行在其国内市场购买外国公司的股票，然后通过券商在托管银行当地市场发行DR。在这种情况下，托管银行保留股票的投票权。
如如果是DR，谁拥有voting rights呢
