SEC: Letter from CLC regarding Shareholder Disclosure Petition
The Campaign Legal Center sent a letter to Securities and Exchange Commission (SEC) Chair Mary Jo White urging the Commission to act affirmatively on the pending petition to require public companies to disclose to shareholders the use of corporate resources for political activities.
Petition 4-637, “to Require Public Companies to Disclose to Shareholders the use of Corporate Resources for Political Activities” was submitted in 2011 and has received a record-breaking 1.2 million supportive comments. To date, the SEC has not responded to the petition. The letter urges the SEC, which is charged with protecting shareholders, to take up the petition and move expeditiously to require publicly held companies to disclose their political spending to their shareholders.