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SEC Should Require Political-Spending Reports, Ex-Chairs Say

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Two former chairmen of the U.S. Securities and Exchange Commission urged the regulator to force companies to disclose campaign donations, pressuring the agency to weigh in on a politically explosive issue ahead of the 2016 presidential election.

In a bipartisan letter to SEC Chair Mary Jo White on Wednesday, Arthur Levitt and William Donaldson said corporate political spending is of “paramount public interest and growing concern to investors.” They pointed to a record 1.2 million comment letters supporting a 2011 petition by a group of securities law professors as evidence that the agency should act.