The “Security and Exchange Commission (SEC) is set to decide on a new rule that” will force corporations to further disclose political contributions, according to FOX Business Network’s (FBN) Senior Correspondent Charlie Gasparino. Gasparino went on to report that “the SEC received close to 500,000 letters in favor of this increase disclosure” from Advocacy Groups.
Video and excerpts from the report below:
The following is our rough coverage of the 2021 Sohn Investment Conference, which is being held virtually and features Brad Gerstner, Bill Gurley, Octahedron's Ram Parameswaran, Glenernie's Andrew Nunneley, and Lux's Josh Wolfe. Q1 2021 hedge fund letters, conferences and more Keep checking back as we will be updating this post as the conference goes Read More
On the Security and Exchange Commission (SEC) deciding on a new rule to further disclose political contributions:
“In April the SEC, the Security and Exchange Commission, is set to decide on the new rule that forces corporations to even go further to disclose their contributions. What this is essentially going to do, is any contribution that a corporation; Dell, JPMorgan, you name it makes to an outside group, a trade group like the U.S. Chamber – will have to be disclosed in a really specific way.”
On the SEC receiving close to 500,000 letters from Advocacy Groups:
“Well the SEC has been bombarded with comment letters from Advocacy Groups calling for these additional disclosures and here is a wild number that I never heard before, I think it’s a record. The SEC received close to 500,000 letters in favor of this increase disclosure. These letters have largely come, now here is the kicker, from Advocacy Groups.”