WASHINGTON, D.C. — More than 60 institutional investors and academics called on regulators Tuesday to require more transparency in corporate filings — including information on offshore tax practices. The petition to the Securities and Exchange Commission (SEC) is part of a broader effort to align disclosure frameworks with an investment environment focused on long-termism.
Gary Kalman, the executive director of the Financial Accountability and Corporate Transparency (FACT) Coalition, issued the following statement:
“Institutional investors are increasingly concerned about the risks posed to their assets by aggressive tax strategies — a risk made greater by the passage of the recent tax overhaul, which increased the incentives for offshore tax avoidance while reducing the information available to investors in corporate filings. The Securities and Exchange Commission should listen to those they are entrusted to protect and provide investors with the information they need to gauge the risks of aggressive offshore tax practices.”
Deputy Director, The FACT Coalition
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Notes to Editors: