July 25, 2013
The SEC needs to review it's own mission statement which states that--for the protection of all investors: "[It] requires public companies to disclose meaningful financial and other information to the public."
Surely this Mission Statement cannot mean that it is OK to not disclose the enormous sums of money that obscenely rich Corporations use to manipulate political outcomes. The mission statement claims that the SEC has avowed to protect all investors. This can't actually happen if some investors are deemed "more equal" than others, and are allowed to have "dark information" protected by the SEC.
Please review the following excerpts from your mission statement:
The mission of the U.S. Securities and Exchange Commission is to protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation. As more and more first-time investors turn to the markets to help secure their futures, pay for homes, and send children to college, our investor protection mission is more compelling than ever. As our nation's securities exchanges mature into global for-profit competitors, there is even greater need for sound market regulation. And the common interest of all Americans in a growing economy that produces jobs, improves our standard of living, and protects the value of our savings means that all of the SEC's actions must be taken with an eye toward promoting the capital formation that is necessary to sustain economic growth. . .
The laws and rules that govern the securities industry in the United States derive from a simple and straightforward concept: all investors, whether large institutions or private individuals, should have access to certain basic facts about an investment prior to buying it, and so long as they hold it. To achieve this, the SEC requires public companies to disclose meaningful financial and other information to the public. This provides a common pool of knowledge for all investors to use to judge for themselves whether to buy, sell, or hold a particular security. Only through the steady flow of timely, comprehensive, and accurate information can people make sound investment decisions.