January 13, 2013
Securities and Exchange Comm.
Dear Securities and Exchange Comm.,
I’m writing to urge the commission’s prompt approval of rules requiring public disclosure of political spending by publicly-held companies. Disclosure is vital to the SEC’s responsibility to ensure that investors have the information they need to make sound decisions about when and where to put their money. Shareholders also have a right to know how companies in their investment portfolios are investing that money, particularly when the spending falls outside the company’s normal business activity.
Undisclosed and unreported spending of corporate resources on politics is an incredibly gross violation of stakeholder rights. The 'Citizens United' SCOTUS decision leaves the door wide open to expropriation of shareholder owned resources for narrow political viewpoints not necessarily shared or endorsed by the equity holders. As a stakeholder in major corporations via my 401K investments, as most US citizens are, this concept is in total violation of everything I have ever been taught about shareholder rights. Political viewpoints aside, I feel very strongly about this matter.
Thank you for considering my comment.