How Do Companies Keep Secrets? Trump’s SEC Helps Anthem Block Initiative To Expose Its Lobbying Activities Amid Cigna Merger Push
The following is an excerpt from DAVID SIROTA | March 6, 2017 | ibtimes.com |
How do companies keep secrets? President Donald Trump's Securities and Exchange Commission ruled that a healthcare company seeking federal and state government approval for a controversial merger may block shareholders from voting on an initiative to compel the company to fully disclose its lobbying activities.
Last month, the SEC’s Division of Corporation Finance informed Anthem that it will not recommend enforcement action if the company blocks the resolution submitted by a group of faith-based social justice groups that own shares in the company. If passed, that resolution would have forced the company to disclose its “policy and procedures governing lobbying” and all “payments by Anthem used for direct or indirect lobbying or grassroots lobbying communications.”
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