March 28, 2014
SEC
I am deeply concerned about the influence of corporate money on our electoral process.
In particular, I am appalled that, because of the Supreme Court's ruling in Citizens United v. Federal Election Commission, publicly traded corporations can spend investors' money in secret.
I am writing to urge the Securities and Exchange Commission to issue a rule requiring publicly traded corporations to publicly disclose all their political spending.
Unless decisions about donations are made during a shareholder meeting and voted on at that time, then individuals are making decisions for the company that may not be the same decision as individual share holders. There have a been a number of major news stories about unions making political donations that their members may not have agreed with and shareholders need to be protected just as much as union member are.
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 considering my comment.
Sincerely,
John DelTognoArmanasco