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Truth is Powerful

How the Biden Administration Can Increase Transparency for Corporate Political Spending

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NiseriN It’s finally time to turn on the lights. For over a decade, there have been growing calls for transparency and accountability regarding corporate political spending and other ESG (environmental, social, and governance) issues from investors who are tired of corporations hiding the ball. These calls did not make an impact on the Obama administration, which failed to issue better rules when it had the chance, and these pleas were actively ignored by the Trump administration, which pushed corporate accountability further out of reach. The Biden administration may finally be responsive to these demands for sunlight.

Investors have been complaining to American publicly traded companies about the lack of transparency for years. Fortunately, there are already encouraging signs that the Securities and Exchange Commission (SEC) and the Department of Labor — which have been hamstrung for years — will finally act. Indeed, the Biden SEC has already indicated that it will take action on ESG issues at publicly traded companies to help protect shareholders and that the commission welcomes comments from the public. Moreover, SEC Commissioner Caroline Crenshaw penned a piece on Monday indicating that it was time for Congress to let the SEC make disclosure rules for corporate money […]

Click here to view original web page at www.brennancenter.org

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