April 28, 2013
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 – and to do so this year.
The financial interests of companies are often at odds with the interests of individuals, even their shareholders. Further, massive corporate spending has been demonstrated to modify public opinion and affect elections, often using false or selective facts.
Shareholders have a right to be aware of these activities. More importantly, a democracy requires full disclosure of biases. Citizens are required to disclose their political giving; corporations should as well.
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.
Jeremy Fretts
Alexandria, VA