Political Quotes

“Since the courts have weighed in, Democrats have been attempting to use the securities laws to mandate the disclosure of companies' political spending activities in order to name and shame companies from engaging in such free speech activity. Time and time again, when the issue of political disclosure has come up as a shareholder proposal at every company's annual proxy meeting where it has been proposed, it has been shot down. It has been defeated. In fact, according to Proxy Monitor, the average percentage vote in favor of a political disclosure shareholder proposal in 2016 was just 23 percent support. Shareholders have repeatedly weighed in against requiring disclosure of this information and do not believe it is important in making their own investment decisions regarding that company. Our securities laws and disclosure requirements have always centered on the concept of materiality, as determined by the Supreme Court, whether an omitted fact is material by looking at ``whether there is a substantial likelihood that a reasonable shareholder would consider it important in deciding how to vote.'' In fact, under the Obama administration, former SEC Chair Mary Jo White declined to advance a political disclosure rule, stating it was ``not one of the priorities we are advancing.'' Additionally, former Chair White was vocal about ensuring that disclosures were not causing informational overload for investors.…”