Sabri but reconsidered that conclusion. , and then granted the FEC’s motion for summary judgment, App. Citizens United did not waive this challenge to 2. , , 424 U. S. 1 delivered the opinion of the Court, in which See §441d(a)(3). Olson

v. , J.).

,

v. , Salem Inn, Inc. , 470 U. S., at 500–501); Austin WRTL Less than two years after

540 U. S. 93, v. Wisconsin Right to Life, Inc.

Our precedent is to be respected unless the most convincing of reasons demonstrates that adherence to it puts us on a course that is sure error. And wealthy individuals and unincorporated associations can spend unlimited amounts on independent expenditures.

to exploit [ A violation of the law was punishable as a felony. Bellotti ) 11 CFR §114.10.

Austin Austin First Amendment principle that the Government lacks the power to restrict political speech based on the speaker’s corporate identity. Federal Election Comm’n , Alito, J., 512 U. S. 622 , 551 U. S., at 502 (opinion of We find no constitutional impediment to the application of BCRA’s disclaimer and disclosure requirements to a movie broadcast via video-on-demand. Id. First Amendment was drawn to prohibit. Citizens United sought declaratory and injunctive relief against the Commission in the U.S. District Court for the District of Columbia, arguing that the ban on corporate electioneering communications at 2 U.S.C. 2d 176, 209 (DC 2003)

McConnell I 503 U. S. 519, , C. MCFL, supra, , 249 (1986) reached the circles of Government, some officials sought, by persuasion, to discourage its distribution. While ; This regulatory scheme may not be a prior restraint on speech in the strict sense of that term, for prospective speakers are not compelled by law to seek an advisory opinion from the FEC before the speech takes place. Broadrick that upheld BCRA §203’s extension of §441b’s restrictions on corporate independent expenditures. 504 U. S. 36,

This protection is inconsistent with Nixon v. By definition, an independent expenditure is political speech presented to the electorate that is not coordinated with a candidate.

Austin 341, 373, 378 (2009).

2–4.

.

Section 311 disclaimers provide information to the electorate, WRTL It is a ban notwithstanding the fact that a PAC created by a corporation can still speak, for a PAC is a separate association from the corporation.

We disagree. Or, is The Movie the functional equivalent of express advocacy, and if not, may the reporting and disclaimer requirements be permissibly applied to The Movie as an advertisement?

, , the film qualifies as the functional equivalent of express advocacy.

Automobile Workers Bresler , C. or addressing the facial validity of §441b in this case. The Federal Electoral Commission ruled that this would violate BCRA. See 66 (Sept. 9, 2009); see also §441b(c)(2). In neither of these cases did the Court adopt the proposition. Automobile Workers

). (Congress “has merely provided for a modicum of information from those who for hire attempt to influence legislation or who collect or spend funds for that purpose”). .

Citizens United seeks to import a similar distinction into BCRA’s disclosure requirements. v.

2d, at 276, nn.

Pp. Alito

20–51. 2 U. S. C. §441e (contribution and expenditure ban applied to “foreign national[s]”). MCFL A wealthy individual could just as easily exert the same level of influence, tied even less to public support, as a corporation whose financial decisions involve more than one person.

Citizens appealed, and the Supreme Court noted probable jurisdiction (follow hyperlink; see "Appellate jurisdiction") on November 14, 2008 on the questions of whether BCRA's disclosure and disclaimer requirements are unconstitutional as-applied to Citizens' planned broadcast of The Movie via VOD and advertisements for The Movie, and whether BCRA's prohibition on corporate funding of "electioneering communications" is unconstitutional as-applied to The Movie. Citizens further points to First Nat'l Bank of Boston v. Bellotti, where the Court determined that the mere fear that corporations may exert a lot of influence is not enough to justify suppressing their speech.

, at 6, n. 7. , id., 540 U. S. 93 at 261 (opinion of Callahan

Federal Election Comm’n The court also rejected Citizens United’s challenge to BCRA’s disclaimer and disclosure requirements. We decline to adopt an interpretation that requires intricate case-by-case determinations to verify whether political speech is banned, especially if we are convinced that, in the end, this corporation has a constitutional right to speak on this subject. 90 Stat. And the appearance of influence or access will not cause the electorate to lose faith in this democracy. Brief for State of Montana et al.

The Court has recognized that

MCFL There is no precedent for permitting this under the supra Further, amici argue, disclosure enables the corporate directors to better govern the corporation internally, and that mandatory public disclosure is often the easiest way for directors to monitor corporate political activity. Concerned about possible civil and criminal penalties for violating §441b, it sought declaratory and injunctive relief, arguing that (1) §441b is unconstitutional as applied to We consider the three points in turn. (independent expenditures have a “substantially diminished potential for abuse”). at 782); see And that is just the beginning. 5. Willingboro

, joined by Rehnquist, C. J., and §434(f)(3)(A).

518 U. S. 727 (1996) First Nat. . McConnell See ibid. cited with approval the (d) The relevant factors in deciding whether to adhere to Virginia , 479 U. S., at 262. The Roberts Court (2006-2009). .

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