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September 25, 2013

 

DiNapoli Statement on Qualcomm Leading CPA-Zicklin Index of Corporate Political Spending Disclosure

New York State Comptroller Thomas P. DiNapoli today applauded Qualcomm Inc. for achieving a top ranking in the 2013 CPA-Zicklin Index of Corporate Political Accountability and Disclosure. This new recognition comes after the New York State Common Retirement Fund (Fund) and Qualcomm reached an agreement for the company to disclose how shareholder funds are used for political purposes.   

“Qualcomm has achieved the highest score among publicly traded companies in the United States for its comprehensive political spending disclosure policy negotiated with the Fund and implemented earlier this year,” DiNapoli said. “Qualcomm deserves praise for taking steps toward greater shareholder transparency. The release today of the new CPA-Zicklin Index is an affirmation that good governance and good business go hand in hand. More corporations should follow Qualcomm’s lead.” 

The $160.7 billion Fund, of which DiNapoli is trustee, and Qualcomm jointly announced in February that the company had implemented a new political spending disclosure policy in addition to releasing past years’ political spending. The company agreed to post on its website contributions to political candidates and political parties, political expenditures to trade associations and Section 501(c)(4) organizations and contributions to influence ballot measures. The voluntary agreement resolved a shareholder lawsuit that had been initiated by the Fund. 

DiNapoli has reached agreements with 18 companies since 2011 to disclose spending on political activities and lobbying, including those with PepsiCoKeyCorp and Yum! Brands

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