This seems invasive and a rights violation to me

[Randomthought]

I was just emailed a form at work asking me to list my political contributions for the year ending October 31st, 2010.
It also asked if I gave money to someone I couldn't vote for and if I gave money to a political party and if so which party
This is supposedly to comply with SEC regulations.

Does anyone know anything about this? When did this legislation sneak through? I have a feeling i will be looking for a job soon.

[MineralMan]

1. It depends on who you work for and some other factors.

Without additional information, it's impossible to say. There are rules regarding some vendors with contracts with the government, I believe, that require detailed donation information. What sort of organization or company do you work for? You needn't name the actual company.

[Randomthought]

2. it's an investment company

What I have a problem with, as do some of my co-workers, is the question about which political party you donated to.
To me that violates the secret ballot principle.

According to the company attorneys this is to comply with new SEC regulations.

[MineralMan]

3. I'll have to see if I can dig up the regulation, but I'm not an

SEC maven at all. Seems intrusive, though.

[trotsky]

4. That smells fishier than a crate of cod.

Don't tell them a thing.

[mascarax]

5. Ask for details on these SEC regulations

I think they should give more than some vague reference.

If they ask for all contributions, why this extra question about whether you "gave money to someone you couldn't vote for"? Wouldn't the first question cover that? It seems odd to me. And, no, I definitely wouldn't like it either. But I'd ask for the specifics. Good luck. How invasive.

[mascarax]

6. Oh, and why do WE have to answer this crap

when corporations (people just like us, right??) don't have to?

[Randomthought]

7. Exactly!

The corporate attorney did send me a link to a pdf file from the SEC. It is 200 pages-sorry it's on my work email, I'll post tomorrow.

Right now I'm thinking all contributions will stay under the campaign finance reporting limit and in cash.
The thing that is really disgusting is that this "rule" also applies to spouses. I'm getting married in April and my future husband is livid!

The question that really set me off was "Have you contributed to a political party and if so which one?"

That seems to me to violate all kinds of rights. I feel when you contribute to your party that is very much like voting and we have the right to a secret ballot.
It seems to me that by identifying employees that contribute to a party that is opposed to the views of the management those employees might be targeted for adverse actions-no promotions,no raises even lay offs.

I don't think that the management where I work would do that but the possibilities for abuse definitely are there.

[trotsky]

8. Yeah it just doesn't make sense.

I can understand asking you *how much* you contributed to "a" political party, candidate, or group but certainly not which one(s). Might want to contact an employment lawyer too. They'd love to get ahold of a nice juicy suit.

[Randomthought]

9. the plot thickens

one of the corporate attorneys ( the liberal one ) sent me a link to the SEC document.
I have read the relevant sections and the most interesting one is :

(4) Covered Associates
Contributions made to influence the selection process are typically made not by the firm itself, but by officers and employees of the firm who have a direct economic stake in the business relationship with the government client.167 Accordingly, underrule, contributions by each of these persons, which the rule defines as “covered associates,” trigger the two-year time out.168 A “covered associate” of an investment adviser is defined as: (i) any general partner, managing member or executive officer, or other individual with a similar status or function; (ii) any employee who solicits a government entity for the investment adviser and any person who supervises, directly or indirectly, such employee; and (iii) any political action committee controlled by the investment adviser or by any of its covered associates.169

In a company like ours most of the support staff like my self-admins, lower level accountants etc are shall we say more likely to support DFL or Green candidates and I can't think of a legal reason to maintain that kind of data base.

[geardaddy]

10. It seems fishy to me.

What you give and how much is public record anyway. If you give to a political party or a campaign or even a PAC you have to fill out certain information that is supposed to be submitted to the FEC by the receiving party.

Just take a look at http://www.opensecrets.org/indivs/index.php

[Randomthought]

11. only if $200 or more

smaller contributions do not have to be reported by campaigns.
It is, of course, public information but the problem is having an employer ask for the information with the expressed intent of maintaining a database. Not good at all

[geardaddy]

12. That's true

I forgot about the $200 limit.

I totally agree with you about having an employer ask. It's about making a list for political reasons.

[Eric J in MN]

13. My experience.

I've been working at an investment bank in MN for years and my company never asked me about my political donations.

[ISUGRADIA]

14. Here's more information on this

http://www.lexology.com/library/detail.aspx?g=d7cdd026-c872-4761-a460-0494e4ec8220

It looks like this is one of the Obama administration's transparency efforts. This is new for 2010 for Investment firms.

[Randomthought]

15. that's my take on the situation

Since posting this filling out the form has been made "optional" for support staff and it is very quiet down on the legal end of the floor.
I don't think that there was any malicious intent just an idea by the compliance attorneys that wasn't very well thought out. I suspect that support staff will here nothing more about it.
I have had 6 coworkers com to me and thank me for speaking out and taking the time to read through the SEC document.
We have to watch each others back!