A campaign to force public companies to disclose their corporate political spending to investors has bombarded the U.S. Securities and Exchange Commission with more than 1 million comments, a milestone that movement’s supporters used Thursday to compel the agency to act.
Standing in front of the SEC headquarters in Washington, D.C., Columbia Law School professor Robert Jackson Jr. and other investor advocates called on agency Chairwoman Mary Jo White to reconsider Jackson’s 2011 petition for a rule to require public companies to reveal the money they dole out on politics. Although the SEC listed the proposal as a regulatory priority for 2013, it didn’t make the agency’s agenda for 2014. The SEC didn’t elaborate on its reasoning.
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