A nationally recognized attorney who counsels corporate boards on governance issues has suggested corporations that give money to trade associations require more disclosure from the trade associations on their political activity.

Ira M. Millstein
, senior partner at Weil, Gotshal and Manges, is the founder of the Millstein Center for Global Markets and Corporate Ownership at Columbia Law School. He is also the former chairman of the U.S. National Association of Corporate Directors Blue Ribbon Commission on Director Professionalism, chairman of the Private Sector Advisory Group to the Global Corporate Governance Forum, and a contributor to the Organization for Economic Cooperation and Development’s “Principles of Corporate Governance.”

Millstein’s suggestions were highlighted in an article titled “Political Spending: Big Risk for Boards” by Bruce Freed and Karl Sandstrom, appearing in the 2013 Annual Report of Directors & Boards, a quarterly journal on leadership and corporate governance.