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SEC: no more dark money!

To the White House and Members of Congress:

As concerned citizens across the US, we urge you to ask the Securities and Exchange Commission to adopt the rules outlined in petition 4-637, which would “require public companies to disclose to shareholders the use of corporate resources for political activities”. It is the SEC’s responsibility to act with urgency to adopt these rules and end the rule of dark money in politics.

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Recent signers

We all know that dark money is strangling our democracy, with mega corporations like Chevron and Exxon secretly spending billions to buy elections. But now some brilliant Harvard law professors have hatched a plan so Obama’s administration can plug the pig trough with a pen stroke.

The obscure government agency that regulates public companies -- the Securities and Exchange Commission (SEC) -- can act on its own to force corporations to disclose political spending. The SEC doesn’t need a mandate from Congress, and the new rule would be constitutionally bullet-proof.

Until now SEC Chairwoman Mary Jo White has bowed to big money blackmail and blocked the proposed rule. But she doesn’t want the SEC budget slashed -- so she’s vulnerable to pressure from the White House and Democrats on key spending committees in Congress.

The SEC is deciding its agenda for the year right now. If we act fast, we can push our allies to make it too costly for Mary Jo to ignore the massive public outcry.

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