The report accuses Fidelity of paying lip service to human rights, highlighting a disregard for labor rights and ethical business practices. This neglect can be seen as supporting a broader environment of corporate complicity in ignoring critical social responsibilities, which aligns with concerns about complicity in authoritarian practices. Although the evidence is based mainly on an accusation in a report, it raises serious questions about the firm’s commitment to upholding human rights standards.

Fidelity, Vanguard and JPMorgan accused of ignoring human rights

Fidelity's PAC expenditures, as reported by OpenSecrets, indicate a substantial outlay in political contributions and lobbying efforts. Such financial involvement raises concerns about undue influence in political processes, potentially shaping policies that favor corporate interests over democratic accountability. This kind of expenditure can empower authoritarian tendencies by funding candidates or political agendas that undermine public welfare and transparency.

Fidelity Investments PAC Expenditures • OpenSecrets

The article details a notable revolving door phenomenon with 16 out of 27 Fidelity lobbyists in 2023 and 19 out of 32 in 2024 having held prior government positions. This pattern suggests an undue influence by ex-government officials within the firm, raising concerns about conflicts of interest and the potential erosion of impartial democratic processes.

Fidelity Investments Profile: Summary • OpenSecrets

The incident reveals a significant lapse in Fidelity's internal controls and oversight mechanisms, which allowed an employee to access and exploit vulnerabilities in their supervisory system. This failure not only reflects poorly on the firm's commitment to ethical business practices but also undermines public trust in the company's ability to safeguard client interests. The negative business practice directly contributes to a broader pattern of corporate neglect of regulatory obligations, which can indirectly support authoritarian regulatory capture if left unchecked.

Fidelity agrees to pay $600K to resolve FINRA’s allegations over ex‐employees alleged theft

The Financial Times report details that Fidelity spent $3.2 million on lobbying. This level of expenditure on political influence suggests that the firm may be leveraging its financial power to sway policy decisions, which can indirectly support authoritarian practices. Such actions raise serious concerns regarding the company’s commitment to democratic values and transparent public behavior.

Fidelity and BlackRock splurge on lobbying | Financial Times

The article highlights that Fidelity, alongside other major asset managers, funneled a significant sum ($286,256) to support Republican lawmakers who actively opposed the certification of the 2020 election. Such contributions not only undermine democratic processes but are also seen as endorsing anti-democratic and authoritarian practices. This action contributes to corporate complicity in the rise of fascism by financially backing those who reject established democratic norms.

Big firms gave $1.1m to Republicans who objected to Biden’s win