Notwithstanding the deregulatory emphasis of the current administration, two campaigns are currently being waged to convince the SEC to adopt new regulations mandating more disclosure—one related to human capital management and the other related to a frequent target, corporate political spending. Are these just pipe dreams? Is it time for a reality check? Or might there be some basis for believing that this SEC might act on these requests?
by Cydney Posner On Friday, the House passed H.R. 5485, the Financial Services and General Government Appropriations Act for fiscal year 2017, which includes appropriations for the SEC. As noted here and here, included as part of the bill were several amendments directed at defunding SEC rules, potential rules and […]
by Cydney Posner In a speech last week to the International Corporate Governance Network Annual Conference, SEC Chair Mary Jo White announced that the Corp Fin staff is preparing a proposal to amend the current rule requiring board diversity disclosure in proxy statements. The goal will be to require “more […]
Politico reports: prohibition on corporate political spending disclosure a sticking point in omnibus spending bill negotiations
by Cydney Posner According to Politico (subscription required), a “provision to prohibit the SEC from requiring companies to disclose their political campaign contributions is one of the last sticking points in the omnibus spending package, two sources said.” One of bill’s negotiators said there were a few sticking points remaining, one […]
by Cydney Posner With election season upon us — after all, the election is only, well, a year and two months away – it’s time to renew the controversy over political spending disclosure. As you may recall, in 2011, a rulemaking petition was filed with the SEC by a committee of […]
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, […]
Former SEC Chairs and Commissioners to Chair Mary Jo White: failure to mandate political spending disclosure is “inexplicable”
by Cydney Posner Today, two former SEC Chairs and one former Commissioner delivered a letter to SEC Chair Mary Jo White politely berating (well, maybe not so politely) her failure to take action on the 2011 rulemaking petition to require disclosure of the use of corporate resources for political activities.