A report published today criticizes companies that refuse to disclose information about their political spending on their websites. The non-profit Center for Political Accountability and the Zicklin School at Wharton annually rank all companies in the S&P 500 on their political disclosure practices, based on a 70-point metric. The more information companies disclose on their
Corporate Political Spending Disclosure
Congressional Spending Bill Shuts Down Key Goals of Campaign Finance Reform Community
A major spending bill posted late last night by Congressional leaders contains provisions shooting down two key initiatives of the campaign finance reform community.
Stymied by a Federal Election Commission that has increasingly struggled to find consensus, campaign finance activists in recent years have turned their attention to other federal regulators, pressing those regulators to …
New Report Adds Pressure For Public Companies to Voluntarily Disclose Political Spending
A report published today by the Center for Political Accountability will result in more pressure on public companies to voluntarily disclose information about their political spending.
Each year, CPA in collaboration with the Zicklin Center at the University of Pennsylvania issues a detailed report “scoring” companies on their corporate political disclosure practices according to a…
CPA-Zicklin Index for 2015 Expected To Rank Entire S&P 500
Covington has recently learned that, for the first time ever, the CPA-Zicklin Index, which ranks companies’ political disclosure practices, plans to issue rankings for all 500 companies in the S&P 500 Index. This is a significant expansion of the Index, which will impact many public companies that have not previously been subject to intense scrutiny…
Covington Releases How-To Guide For Responding To Corporate Political Disclosure Initiatives
Covington today released a client advisory providing best practices to assist in-house counsel of publicly-traded companies in responding to corporate political disclosure initiatives. These initiatives aim to force companies to post to their websites more information regarding corporate political activities, such as details regarding corporate contributions to trade associations and 501(c)(4) social welfare organizations. Despite…
In Chevron Case, FEC Brings Clarity to the Federal Contractor Ban and Super PACs
The rules on corporate contributions to Super PACs were made clearer today when the Federal Election Commission (FEC) released its finding that Chevron Corporation’s $2.5 million contribution in 2012 to the Congressional Leadership Fund (a Super PAC) had not violated the bar on government contractors making contributions in federal elections.
Public Citizen and several environmental…
Both Sides of the Political Disclosure Divide Likely to Latch onto McCutcheon Decision
Despite the heated rhetoric surrounding today’s McCutcheon decision, it should be remembered that the aggregate contribution limits the Court struck down today have played only a minor role in recent controversies surrounding campaign finance regulation. In recent years, debates surrounding the disclosure of political spending have instead taken center stage. Groups like the Center for…
Activist Investors Announce Submission of Political Spending Shareholder Proposals to 48 Companies
A coalition of 60 investors, led by the AFSCME Employees Pension Plan and Walden Asset Management, recently announced that they have submitted shareholder proposals seeking additional disclosures regarding political spending and lobbying activities. This announcement reflects a continuing desire among these groups to obtain additional disclosures from public companies regarding lobbying and political spending, and…
Shareholders Try New Tactic in Corporate Political Disclosure Fight
This year has not been a great one for activists seeking to force corporations to increase disclosure of their political activities. According to the Manhattan Institute’s Center for Legal Policy, average shareholder support for proposals related to political spending or lobbying declined again this year, from 22 percent to 20 percent for lobbying proposals and…
The More Things Change: The FEC and Yamaha Motor Corporation, U.S.A.
On Thursday, the Federal Election Commission (FEC) was unable to agree on whether Yamaha Motor Corporation, U.S.A. could sponsor a Separate Segregated Fund (a corporate “SSF” or “PAC” in common parlance) that solicited contributions from the employees of its dealers and service centers. The request resulted in an unsurprising deadlock and a surprising discussion about…