Corporate Propaganda Sunshine Act

Bill: 113-hr-1112
Sponsor: full_name: Rep. Grayson, Alan [D-FL-9]
Introduced: 2013-03-13
Policy area: Finance and Financial Sector
Subjects: Administrative law and regulatory procedures

Business records

Corporate finance and management

Elections, voting, political campaign regulation

Public participation and lobbying

Securities

Securities and Exchange Commission (SEC)
Latest action: action_date: 2013-03-13
text: Referred to the House Committee on Financial Services.

Summaries:
action_date: 2013-03-13
action_desc: Introduced in House
text: <p>Corporate Propaganda Sunshine Act - Directs the Securities and Exchange Commission (SEC) to revise certain regulations to require issuers to include in specified periodic reports any expenditures totaling $1,000 or more that were made for the purpose of influencing public opinion on any matter other than the promotion of the issuer's products or services. Requires such disclosures to include the date, amount, and purpose of the expenditure and to identify (by name, address, and phone number) the person to whom it was made.</p>

tv_txt: I 113th CONGRESS 1st Session H. R. 1112 IN THE HOUSE OF REPRESENTATIVES March 13, 2013 Mr. Grayson introduced the following bill; which was referred to the Committee on Financial Services A BILL To direct the Securities and Exchange Commission to revise its reporting requirements to require public companies to report certain expenditures made to influence public opinion on any matter other than the promotion of the company’s products or services.

1. Short title This Act may be cited as the Corporate Propaganda Sunshine Act . 2. Reporting of expenditures Not later than 30 days after the date of enactment of this Act, the Securities and Exchange Commission shall revise its regulations issued pursuant to sections 13 and 15(d) of the Securities Exchange Act of 1934 (15 U.S.C. 78m and 78 o (d)) to require that issuers include in the reports required under those sections any expenditure or series of expenditures of the issuer totaling $1,000 or more made for the purpose of influencing public opinion on any matter other than the promotion of the issuer’s products or services. Such disclosures shall include the date, amount, and purpose of the expenditure and identify (by name, address, and phone number) the person to whom it was made.