SEC Nears Decision on Requiring Businesses to Reveal Political Donations
The SEC is nearing a decision to require US businesses to reveal political donations.
The Hill reported:
The Securities and Exchange Commission under new chief Mary Jo White is approaching a crucial decision on whether to require publicly traded corporations to disclose their campaign spending to shareholders.
If pursued, new disclosure rules could have major ramifications for both political spending on elections and the increasingly influential regulator.
Roughly half a million public comments about the proposal have poured into the agency, the overwhelming majority of which argue that shareholders have a right to know how companies involve themselves in politics.
Opponents dismiss the outcry as the handiwork of a few partisan groups, and they contend the Securities and Exchange Commission (SEC) is ill equipped to wade into the campaign finance issues, which are usually the jurisdiction of the Federal Election Commission (FEC).