You cannot evaluate the parallelism of the McConnell amendment without evaluating the requirements that are now imposed upon labor unions under the Labor-Management Reporting and Disclosure Act of 1959. The argument that this is logical is only if you drop out of the picture or the context the fact that the unions are now under extensive reporting requirements in the law, requirements that significantly exceed, in many respects, anything that is required of corporations. Now, the Department of Labor has the authority to conduct audits of labor unions.
John Sarbanes: “You cannot evaluate the parallelism of the McConnell amendment without evaluating the requirements that are now imposed…”
Editor's note · Context
Discussing labor union reporting requirements in relation to the McConnell amendment.
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