May 22, 2014
I am disappointed that the Securities and Exchange Commission has dropped the rule requiring publicly traded corporations to disclose their political spending from the unified agenda. I respectfully request that the rule be returned to the to the unified agenda and the rule be completed in 2014.
Full disclosure and transparency are required for a functioning democracy. This type of disclosure should be of the highest priority for the federal agency charged with looking out for the interests of investors like me.
There is no reasonable argument that can be made for keeping these types of expenditures in the dark. Only those whose motives are nefarious could wish it otherwise. Transparency breeds accountability, which is something our system desparately needs more of.
It would be absurd for a small business owner not to know if his or her company’s money is being spent to help elect politicians. The same holds true for shareholders. Both shareholders and the public must be fully informed as to how much corporations spend on politics and which candidates are being promoted or attacked. Disclosures should be posted promptly on the SEC’s web site.
Thank you for considering my comment.