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Treasurer calls for more disclosure for public corporations

 Rhode Island Treasurer Seth Magaziner is joining with other state treasurers to petition the Securities and Exchange Commission to adopt a rule to require all publicly-traded corporations to disclose their political contributions.

The treasurers say they're responsible for making sure public funds are invested responsibly and accountably, and that secret political spending continues to be a top issue in the investment world.

Along with the Rhode Island treasurer, the treasurers of North Carolina, Washington, Vermont and Oregon signed a letter to the SEC.

Magaziner says requiring publicly-traded corporations to disclose political giving will help provide investors with the information they need to make informed decisions, and increase transparency.

Treasurer Ted Wheeler of Oregon says they can't do their job effectively as treasurers without knowing how corporations spend their clients' money.

 

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