SEC Mulls Rule to Force Donation Disclosures

Thursday, 01 Sep 2011 03:25 PM

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
The Securities and Exchange Commission is considering a rule that would force publicly traded companies to disclose political contributions in annual proxy statements sent to shareholders. A group of law professors put forth the proposal, The Washington Post reported.

“Many shareholders recognize that the interests of executives and directors with respect to political spending might differ from those of shareholders,” Lucian Bebchuk, a Harvard Law School professor who co-chaired the group of professors, told the Post. “Such shareholders are naturally concerned when, as is commonly the case, their company provides them with no information about its political spending.”

The proposal, which would not cover privately held companies that have provided the bulk of corporate political spending, is part of the continued fallout from the Supreme Court’s Citizens United v. Federal Election Commission 2010 ruling that legalized independent corporate political spending, the Post reported.

Bradley Smith, with the Center for Competitive Politics, a group that opposes regulating political speech, told the Post that “this is just part of the general overreaction to Citizens United. Even before Citizens United, corporations could spend in 28 states, including New York, California, Delaware, and Illinois.”

© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Study: Marijuana Use Has Increased in Colorado

Saturday, 27 Dec 2014 09:00 AM

Colorado emerged as the state with the second-highest percentage of regular marijuana users as it began legalizing the d . . .

Michigan to Drug-Test Some Suspected Welfare Recipients

Friday, 26 Dec 2014 22:07 PM

Some of Michigan's welfare recipients will be drug-tested if they're suspected of using drugs, under a year-long pilot p . . .

Experts: Cuomo Ban Means Fracking Boom Will Bypass NY

Friday, 26 Dec 2014 20:55 PM

Voters in New York overwhelmingly support Gov. Andrew Cuomo's announcement last week that he was imposing an indefinite  . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved