The Conference Board has issued an interesting report on “Corporate Political Spending.” The report addresses an increasingly high-profile issue for politically active public companies: demands from shareholders and interest groups that corporations publicly disclose all of their political and lobbying activities. Much disclosure is already required, of course, by federal,
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shareholder proposals
SEC Staff Takes the Position that Political Spending Proposals Are Substantially Identical to Lobbying Proposals
One issue that confronted many public companies this year was how to respond when they received multiple shareholder proposals relating to political contributions and lobbying matters. One approach that some companies have turned to relies on Rule 14a-8(i)(11) under the Securities Exchange Act of 1934, which allows a company to…
Continue Reading SEC Staff Takes the Position that Political Spending Proposals Are Substantially Identical to Lobbying Proposals