FOR IMMEDIATE RELEASE
Thursday, March 13, 2014
Contact: Laura Swinford, (573) 522-2592
Kander Urges SEC to Require Companies to Disclose Political Spending
Jefferson City, Mo. —Secretary of State Jason Kander sent a letter today to the Securities and Exchange Commission urging them to require publicly held companies to disclose spending on political activities to their shareholders.
"As early as 2006, polls indicated that 85 percent of shareholders held the view that there is a lack of transparency surrounding corporate political activity," Kander wrote. "Moreover, investors in Missouri and elsewhere want to know how – and to what degree – their money is being spent for political purposes."
Kander wrote his letter in support of a rulemaking petition submitted on August 3, 2011, by a group of prominent law professors that outlined the current lack of transparency in corporate political spending. The letter noted the overwhelming investor interest in receiving these disclosures, including the fact that political spending was the most common shareholder proposal in 2012. Read the full letter here.
Kander, the youngest statewide elected official in the country, has been a leading proponent for campaign finance & ethics reform both in Missouri and nationwide. As a former state representative and now secretary of state, Kander has continued to push for greater transparency through tougher disclosure laws, increased authority for the Missouri Ethics Commission, criminal prosecution for violating campaign finance laws, and placing contribution limits on both campaign contributions and gifts from lobbyists. Currently, Missouri is the only state in the nation without limits on such expenditures.
Read more about Kander’s comprehensive ethics proposal here.
Visit www.sos.mo.gov to learn more about the Office of the Missouri Secretary of State.
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