Tester Urges Wall Street to Crack Down on Dark Money
Senator Jon Tester has urged the Chair of the Securities and Exchange Commission (SEC) to crack down on 'dark money' in elections.
Tester has sent a letter to SEC Chair Mary Jo White, urging her to require corporations to disclose political spending. The senator said that 'dark money' in elections undermines the rights of shareholders and weakens the democratic process.
“Without much needed transparency, corporate executives now have the ability to freely spend shareholder funds to influence campaigns without accountability,” Tester wrote. “Corporations are not people and should not be allowed to dump unlimited dark money in our elections.”
The SEC has regulatory oversight over what corporate boards must disclose to investors.