13 Jul '11, 6pm

11 Reasons Why We Need the Shareholder Protection Act

11 Reasons Why We Need the Shareholder Protection Act

The Shareholder Protection Act, introduced today in the U.S. House and Senate, addresses corporate governance problems left in the wake of the Supreme Court’s 2010 decision in Citizens United v. FEC , which enables corporations to spend an unlimited amount of money on political advertising. The bill is modeled on the U.K. Companies Act, which requires prior shareholder approval of corporate political donations. The Shareholder Protection Act would bring this requirement to publicly-traded American companies, as well as implementing quarterly reporting to investors of all corporate political expenditures. The Shareholder Protection Act is sponsored by Rep. Michael Capuano (D-Mass.) and Sens. Robert Menendez (D-N.J.) and Richard Blumenthal (D-Conn.); in total the bill has thirty-seven House and two Senate co-sponsors. A broad coalition of socially responsible investors and g...

Full article: http://business-ethics.com/2011/07/13/1225-opinion-11-rea...

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