March 29, 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.
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.
I am particularly disturbed at the actions of Monsanto regarding use of genetically modified seeds and food choices which shut out the use of non-modifies seeds and limits the production of non-GMO foods.
British Petroleum is also using ad campaigns which glorify their community involvement while continuing haphazard safety practices like the recent oil spill into Lake Michigan (on top of the Gulf of Mexico
tradgedy) and funding political candidates who allow loose regulations which foster these pollution events.
We need controls put on corporations which act irresponsibly against the public interest and public disclsure of their political spending.
Thank you for considering my comment.
Sincerely,
Tom Riley