Outrage over SEC terrorism ‘blacklist’

Financial Times ^ | June 28 2007 22:02 | By Jeremy Grant in Washington

[DeaconBenjamin2]

Some of the world’s biggest companies are outraged by a website link launched by US regulators aimed at exposing which of them could be “indirectly subsidising a terrorist state”.

The Securities and Exchange Commission this week linked to a list of five countries – Cuba, Iran, North Korea, Sudan and Syria – designated by the State Department as “sponsors of terrorism”.

By clicking on each country, investors see a list of companies that mention that country in their latest annual reports. The companies are mostly non-US and include Unilever, Cadbury, HSBC, Nokia, Siemens and Total.

Christopher Cox, SEC chairman, described the site as falling under the commission’s investor-protection mission. “No investor should ever have to wonder whether his or her investments or retirement savings are indirectly subsidising a terrorist haven or genocidal state.”

But the companies are objecting because the list does not make clear the extent of a company’s business in such states or whether they still have ties.

[HaveHadEnough]

I hear Cadbury is Castro’s favorite chocolate.

[BubbaJunebug]

Good, make ‘em uncomfortable

[ken5050]

Hey, I didn’t know the Financial Times had a Sports section..

[Gondring]

It hasn't - you've just grown up!

[CholeraJoe]

Unilever? They are the official margarine, mayonnaise, ice cream bar, seasoning salt, tea, pasta sauce, and salad dressing of NASCAR! If you boycott them ya gotta boycott NASCAR. No Way!

[ApplegateRanch]

Screw NASCAR! Let them get an AMERICAN sponsor.

Don’t need no Euroweinies tellin us how to race!

[MeanWestTexan]

I would assume Cadbury buys lots of high quality sugar, a lot of which would come from Cuba.