Is it illegal for foreign corporations to donate to American PACs?

http://www.wnyc.org/story/181667-explainer-can-foreign-companies-make-political-donations/

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Political Action Committees connected to foreign corporations have already raised over $5 million for the 2012 elections, continuing a trend of increasing contributions from U.S. subsidiaries of foreign interests.

In the entire 2000 election cycle, foreign-connected PACs raised just over $7 million. In 2008, the total shot up to $15 million. We’re on pace for another big year.

UBS, the Swiss financial services company, for example, is headquartered in Zurich and Basel, Switzerland, but its American subsidiaries are free to run a PAC (UBS Americas) to raise money for federal campaigns. UBS Americas is among Mitt Romney’s top 20 donors in the 2012 election cycle, having contributed almost $75,000. So is Credit Suisse, also headquartered in Zurich, whose U.S. subsidiaries have raised over $200,000. So is Barclays, headquartered in London, whose U.S. subsidiaries have raised over $150,000.

This is perfectly legal so long as it’s American employees running the PAC and contributing the money, and so long as the PAC remains unfinanced by the foreign parent corporation.

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