SEC announces online information on terror-free investing

The move comes on the heels of increasing pressure and legislative action across the nation to require divestment of public pension funds from such entities.

Although the information showing direct dealings with state sponsors of terror is public and has been consistently identified by Missouri State Treasurer Sarah Steelman, opponents of divestment efforts have used the lack of a federal listing of companies as an excuse to not take action.

“Public pension fund managers can no longer mislead their retirees and take the coward’s way out,” Steelman said in a news release.

“It is time that every person in this country stand up and say it loudly and clearly: ‘We will not allow our money to be used to fund our enemies.’”

In announcing its plans to post the information online, SEC Chairman Christopher Cox said, “No investor should ever have to wonder whether his or her investments or retirement savings are indirectly subsidizing a terrorist haven or genocidal state.”

Some of the companies identified by the SEC include Royal Dutch Shell, Statoil, ABB, and Total, all companies Steelman has worked to exclude from Missouri portfolios because of their direct financial ties to the governments of Iran, Sudan, North Korea, Syria and/or Cuba.

A complete listing of the companies identified can be found at www.sec.gov.

Steelman added that the information on the Web site should be examined and evaluated on a case-by-case basis, and specifically cited the need to distinguish between humanitarian support for the people of the sanctioned nations versus supplying those terrorist-sponsoring governments with revenues and means to finance terrorism.