Tag: corporate political spending

Is it time for corporate political spending disclosure?

A new bill that has been introduced in the House, H.R. 1053, would direct the SEC to issue regs to require public companies to disclose political expenditures in their annual reports and on their websites.  While the bill’s chances for passage in the House are reasonably good, that is not the case in the Senate. In the absence of legislation, some proponents of political spending disclosure have turned instead to private ordering, often through shareholder proposals.  So far, those proposals have rarely won the day, perhaps in large part because of the absence of support from large institutional investors.  But that notable absence has recently come in for criticism from an influential jurist, Delaware Chief Justice Leo Strine.   Will it make a difference?

BlackRock issues proxy voting guidelines for 2018 proxy season

As discussed in this PubCo post, BlackRock has recently issued its 2018 Proxy Voting Guidelines for U.S. Securities.  Because BlackRock is reportedly the largest asset management firm (with $6.3 trillion under management), its voting guidelines will matter to more than a few companies.  And BlackRock takes its proxy voting seriously. With the growth in index investing, CEO Laurence Fink has argued, asset managers’ responsibilities of engagement and advocacy have increased, given that asset managers cannot simply sell the shares of companies about which they have doubts if those companies are included in index funds.

CPA-Zicklin Index for 2016 shows companies increase disclosure, oversight and restrictions regarding corporate political spending

by Cydney Posner In light of our proximity to election day — finally — it seemed like a good time to take a look at the CPA-Zicklin Index of Political Disclosure and Accountability, just released for 2016, which annually evaluates corporate practices and disclosure regarding political spending.  In a record-breaking year […]

Prohibition on political spending disclosure requirement survives in omnibus spending bill, WSJ reports

by Cydney Posner The WSJ  is reporting that the provision prohibiting the SEC from adopting requirements for political spending disclosure has survived as part of the omnibus spending bill (12/15 text ).  (See this PubCo post.)   Not that the SEC was addressing the issue anyway.  More specifically, Section 707 of the bill […]

House aims to stop SEC from requiring political spending disclosure — companies increasingly “volunteer” spending information

by Cydney Posner It may seem early to you to be thinking about Christmas, but not to Congress.  In fact, it’s just that time of year again when Congress uses annual appropriations bills as a Christmas tree for all of its favorite ornaments.  In this year’s financial services spending bill, […]