June 27, 2012
Dear Securities and Exchange Comm.,
As an investor, I am deeply upset by corporations using corporate money on political expenditures without shareholder knowledge and approval. As a concerned politically aware citizen I am offended by corporations presuming to use what is essentially my own money to advance positions with which I may very strongly disagree, and because of the secrecy, have no means to seek redress or even know of specific activity. It is essential for politically concerned investors to know what individual corporations are doing politically with their money, so as to make informed investment decisions and possibly refrain from investing in corporations engaged in activity with which they disagree.
In particular, I am appalled that, because of the Supreme Court's ruling in Citizens United v. Federal Election Commission, publicly traded corporations can conceal expenditures of shareholder funds on politics.
I am writing to urge the Securities and Exchange Commission to issue a rule requiring publicly traded corporations to publicly disclose all their political spending.
Both shareholders and the public must be fully informed about corporate political spending and which candidates it is being used to promote or attack. Disclosures should be posted promptly on the SEC's web site.
Thank you for considering my comment.
Jeffrey B Schroer