January 14, 2013
Securities and Exchange Comm.
Dear Securities and Exchange Comm.,
Since the Securities and Exchange Commission is responsible for protecting the interests of investors and shareholders, and I am a stockholder in a variety of companies, I am writing to urge you to approve rules requiring public disclosure of political spending by publicly-held companies. Disclosure is vital to the SECís responsibility to ensure that investors have the information they need to make sound decisions about when and where to put their money. Shareholders also have a right to know how companies in their investment portfolios are investing that money, particularly when the spending falls outside the companyís normal business activity.
In the last election, the U.S. Chamber of Commerce and other nonprofit groups laundered hundreds of millions of dollars provided by corporations and super-rich political investors, spending it to support and oppose candidates while keeping secret the identity of the donors. Many companies don't even tell their shareholders about such spending. That is wrong and should be illegal.
Thank you for considering my comment.
Ann L. Grewe