The following Letter Type F, or variations thereof, was submitted by individuals or entities.
Letter Type F:
I am writing as a concerned investor to request that the Securities and Exchange Commission adopt a rule requiring all publicly traded corporations to publicly disclose the use of corporate resources for political purposes.
As an investor, I depend upon mandatory disclosure to make informed decisions. Disclosure is a bedrock principle of our markets and our democracy. Corporations cannot be held accountable unless their owners are able to monitor their performance and behavior through meaningful, comparable and broadly available disclosures. As a shareholder and a citizen, I have a right to know how corporations are using their vast wealth to influence the outcome of elections and to shape public policy. These undisclosed payments present material risks to our investments, our economy and our democracy.
The Supreme Court said it best: "prompt disclosure of expenditures can provide shareholders and citizens with the information needed to hold corporations and elected officials accountable for their positions and supporters. Shareholders can determine whether their corporation's political speech advances the corporation's interest in making profits, and citizens can see whether elected officials are 'in the pocket' of so-called moneyed interests."
I urge you to pass a rule requiring full disclosure of corporate political activity - including both direct payments to candidates and indirect payments to trade associations, Super PACs and similar groups. Thank you for considering my comment and for all of the work you do on behalf of investors and the public interest.