There’s a conspicuous absence from the Securities and Exchange Commission’s new list of rules it plans to consider next year: the proposed measure that would require corporations to disclose their political spending to shareholders.
The SEC’s unwillingness to take this up in 2014 is a blow to the kind of transparency that is essential to keeping American democracy healthy.
The commission’s decision comes as a shock because this proposal has enjoyed substantial support from a broad array of individuals and groups, including trade associations, academics, elected officials, and business leaders.
The original petition that encouraged the SEC to consider the rule attracted nearly 700,000 signatures (the most in SEC history).
To learn who began the pressure and why it most likely folded, check out the rest of the article at SEC Drops Political Spending Disclosure from 2014 Agenda – OpenSecrets Blog.