Philly controller: SEC should force 'dark' corporate political gifts to light

Vanguard Group founder John Bogle has joined Philadelphia City Controller Alan Butkovitz, other elected officials and a million petitioners urging Securities and Exchange Commission chair Mary Jo White to wake up and reinstate a proposal by her predecessor, Mary Jo Shapiro, that would "require all publicly-traded companies to disclose political spending information to their shareholders" and the general public, according to Butkovitz.

By killing the proposal off her agenda earlier this year, "White is ignoring the material nature of political spending with its inherent risks to shareholders," including spending on "dark money groups that don't disclose their donors," according to a statement by groups backed by Ralph Nader's Public Citizen and other corporate-governance activists, that was released by Butkovitz's office.