Stay up-to-date with the latest developments in securities law through access to both news and all statutes and regulations. Find relevant corporate filings through a searchable EDGAR database. And...
Aug. 31 — Forty-four of the 46 senators in the Democratic caucus prodded the Securities and Exchange Commission Aug. 31 to make a rule requiring public companies to disclose their corporate spending on political activities.
Such a rule was requested by the Committee on Disclosure of Corporate Political Spending in an August 2011 petition, which has attracted more than 1 million supportive public comments.
The SEC dropped the item from its rulemaking agenda at the end of 2013 without ever proposing it, and SEC Chairman Mary Jo White said as recently as September 2014 that there were no plans to move forward on the rule.
A political disclosure rule would bring “much needed accountability to shareholders and transparency to corporate political spending,” the senators said in a letter to White. “We believe this is consistent with the SEC's requirement for public companies to disclose meaningful financial information to the public.”
“We add our voices to the many who have expressed frustration and disappointment that the SEC decided to remove this issue from its regulatory agenda entirely,” the letter said.
Sens. Joe Manchin (D-W.Va.) and Joe Donnelly (D-Ind.) were the lone Democrats not to sign the letter.
Congressional Republicans have included language in spending bills to fund the SEC that would prohibit the agency from using any funds to craft a political disclosure rule.
To contact the reporter on this story: firstname.lastname@example.org
To contact the editor responsible for this story: Phyllis Diamond at email@example.com
For the letter, visit http://www.merkley.senate.gov/imo/media/doc/20150831_SECLetter.pdf
All Bloomberg BNA treatises are available on standing order, which ensures you will always receive the most current edition of the book or supplement of the title you have ordered from Bloomberg BNA’s book division. As soon as a new supplement or edition is published (usually annually) for a title you’ve previously purchased and requested to be placed on standing order, we’ll ship it to you to review for 30 days without any obligation. During this period, you can either (a) honor the invoice and receive a 5% discount (in addition to any other discounts you may qualify for) off the then-current price of the update, plus shipping and handling or (b) return the book(s), in which case, your invoice will be cancelled upon receipt of the book(s). Call us for a prepaid UPS label for your return. It’s as simple and easy as that. Most importantly, standing orders mean you will never have to worry about the timeliness of the information you’re relying on. And, you may discontinue standing orders at any time by contacting us at 1.800.960.1220 or by sending an email to firstname.lastname@example.org.
Put me on standing order at a 5% discount off list price of all future updates, in addition to any other discounts I may quality for. (Returnable within 30 days.)
Notify me when updates are available (No standing order will be created).
This Bloomberg BNA report is available on standing order, which ensures you will all receive the latest edition. This report is updated annually and we will send you the latest edition once it has been published. By signing up for standing order you will never have to worry about the timeliness of the information you need. And, you may discontinue standing orders at any time by contacting us at 1.800.372.1033, option 5, or by sending us an email to email@example.com.
Put me on standing order
Notify me when new releases are available (no standing order will be created)