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US SEC Republicans don't back political spending rule -Gallagher
January 16, 2013 / 8:26 PM / in 5 years

US SEC Republicans don't back political spending rule -Gallagher

WASHINGTON, Jan 16 (Reuters) - There is no support by Republican members of the U.S. Securities and Exchange Commission for a proposal to force companies to disclose their spending on political campaigns, SEC Republican Commissioner Dan Gallagher said on Wednesday.

“That would not be one of our priorities,” he said, speaking at an event at the U.S. Chamber of Commerce. “That is just a political wish list.”

His comments come not long after proponents of more disclosure held a press conference to tell reporters they were hopeful the SEC might adopt such a rule. The SEC, currently without a fifth member and divided 2-2 between Democrats and Republicans, in December had issued a federal notice saying a political spending disclosure rule was under consideration.

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