STA’s Political Action Committee, STAPAC, is a major component of STA’s Washington strategy. Formed in 1997, STAPAC is registered with the Federal Election Commission. Its purpose is to support candidates for federal office who share STA’s values and beliefs. STA has long felt that it is important for our industry to have members of Congress who are supportive of markets structured on the basis of economic forces and competition rather than government intervention.
Under the law, individuals can contribute up to $5,000 per year to STAPAC and STAPAC, in turn, can contribute up to $5,000 per candidate. Annual contributions exceeding $200 will be disclosed to the Federal Election Commission as required by law.
A special committee of STAPAC determines which candidates are to receive STAPAC contributions. Factored into these decisions are the positions of the Senators and Representatives in Congress, their committee assignments, their relation to the securities industry and their support of STA, among other things. The Committee also consults with other members of the STA Board and its Washington counsel for input and suggestions.
Under applicable law, the amounts that may be contributed to and by a PAC are limited, and steps must be taken to ensure that contributions to the PAC are strictly voluntary and without coercion.
For further information about STAPAC, please call 203-202-7680 or e-mail us. We welcome your comments and suggestions.