The Brennan Center urges adoption of the Shareholder Protection Act (H.R. 4790). The Act would provide shareholders with notice of corporate political spending, as well as providing shareholders with the ability to vote on future political spending by corporations. Today we sent two open letters to Congress urging support of the bill.
Frederick ('Fritz’) A.O. Schwarz, Jr., the Brennan Center’s Chief Counsel and partner at Cravath, Swaine & Moore, is primary signatory of the first letter. The Schwarz letter urges Congress to improve shareholder protections in the wake of Citizens United v. FEC. Among other professional accomplishments in private practice, Mr. Schwarz is an expert in campaign finance law and was Chair of the New York City Campaign Finance Board. Mr. Schwarz and other leaders of the bar signed the letter as former and present legal counsel to corporations and associations.
Ciara Torres-Spelliscy, Counsel at the Brennan Center and author of “Corporate Campaign Spending: Giving Shareholders A Voice” (which argues for the U.S. to change its securities laws to improve transparency and accountability of corporate political spending), is signatory of the second letter. Both letters urge passage of the Shareholder Protection Act (H.R. 4790) as a key reform after Citizens United.
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Letters to Congress in Support of the Shareholder Protection Act
The Brennan Center urges adoption of the Shareholder Protection Act, which would provide shareholders with notice of corporate political spending, as well as providing shareholders with the ability to vote on future political spending. The Center sent two open letters to Congress supporting the bill.
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