August 6, 2013
First you ignore illegal frontrunning of data - essentially the equivalent of insider trading for Wall Street and K Street. Now you illegally allow publically traded corporations to not disclose their corrupt government payoffs.
Time to be transparent to American citizens about payments to politicians. This is information that shareholders and taxpayers should know. Stop being hypocrits about Capitalism. Full disclosure and competition are cornerstones of Capitalism and American free market way.
I urge the SEC to issue a rule requiring publicly traded corporations to publicly disclose all their political spending – and to do so this year. Show some strength now or continue to lose trust and transaction volume on Wall Street.
“Dark money” groups that accept contributions from corporations, but are not required to publicly identify their corporate donors, spent millions of dollars during the 2012 elections. You are killing, not helping, Wall Street.
It is a scandal that money from publicly traded corporations – which belongs to investors – can be secretly spent to distort our democracy.
The Supreme Court’s ruling in Citizens United v. Federal Election Commission created the loophole that enables this secret spending, but the SEC has the authority to close it.
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. Better to take proactive actions like the above, along with eliminating illegal frontrunning versus lost trade volume later.
BJ blaz