Corporate Law News

Big Fund Managers Ripped for Opposing Political Cash Disclosures

Nov. 18, 2019, 8:42 PM

BlackRock Inc., Vanguard Group Inc. and Fidelity Investments are being drawn into a fight over political spending with a top Securities and Exchange Commission official blaming the fund managers for failing to push corporations to disclose their campaign contributions.

As managers of trillions of dollars, BlackRock, Vanguard and Fidelity are among the biggest investors in almost every U.S. company. That arguably gives them unparalleled clout to influence the outcomes of shareholder elections.

SEC Commissioner Robert Jackson Jr., who holds a Democratic seat at the agency, said his office studied 15 years of data to assess how the money...

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