Subject: File No. 4-637
From: Mary Hadcock

May 23, 2014

As a shareholder, I am concerned to learn that the Securities and Exchange Commission has dropped from the "unified agenda" the rule that would require publicly-traded corporations to disclose their political spending.

Your action compounds the damage caused by the Citizens United ruling. I call it damage because either ruling enables others effectively to nullify my vote on any issue ... NOT BY VOTING, BUT BY PAYING, and not on a simple 1-to-1 ratio. One vote vs millions of dollars rather obliterates the concept of "one person, one vote," does it not?

Moreover, as I depend on income from my (invested) retirement savings, it is distressing to think that my investments could help to pass legislation that may not appeal to me or could even cause me physical or financial harm. 

How would I know??

Before I invest in a business, I should be entitled to knowledge of the company's history of political investments (targets and amounts), just as I am entitled to know a mutual fund's holdings by name, and the number of shares in each.

Transparency MUST be required.

I hope you are capable of restoring the disclosure rule THIS YEAR.


Mary Hadcock