April 30, 2012

Subject: Comment on File Number 4-637

Dear Securities and Exchange Commissioners:

I wany to urge the SEC to adopt a rules mandating that all publicly traded corporations should publicly disclose all their political spending. This should include all forms of spending intended to influence government policy, including lobyists, lobying groups, think tanks, political action committees and the like, and political campaigns or political advertising. This should include industry advocacy, when addressing legislative or regulatory issues.

If money is going to be considered free speech, then at least make sure that its use is freely understood. If a company is going to spend shareholders' money, they have a right to know.

Both shareholders and the public must be fully informed as to how much the corporation spends on politics and which candidates are being promoted or attacked. Disclosures should be posted promptly on the SEC's web site.

Thank you for listening.


Warren Thompson