The Disclosure Police Target Walmart
3:38 PM, Jun 5, 2014 • By MICHAEL WARREN
All the ideological olive branches in the world shouldn’t give Walmart or any other corporation any confidence the disclosure police won’t keep coming after them. Anti-political spending activists have other weapons in their arsenal to achieve the same goals. The DISCLOSE Act (which stands for “Democracy Is Strengthened by Casting Light On Spending in Elections”) died in the Senate in 2010, but it remains the holy grail for those who want to put into federal law the stricter disclosure requirements. When Democrats eventually take back control of the House of Representatives, expect an updated version of the DISCLOSE Act to be at the top of the party’s list of priorities. There’s also a movement afoot to encourage the Securities and Exchange Commission to adopt a rule that would “require public companies to disclose to shareholders the use of corporate resources for political activities.” So far, the SEC hasn’t moved on the rule (much to the chagrin of liberals), and Republicans in Congress have been encouraging the agency not to adopt it.
And if all else fails the activists, there’s always next year’s shareholder meeting.
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