Bill Seeks Info On Oil Co. Payments To Corrupt Nations

Law360, New York (June 28, 2010, 1:04 PM EDT) -- A last-minute addition to the finance reform bill in Congress could force companies to disclose to the U.S. Securities and Exchange Commission extensive information about payments to governments related to commercial oil, natural gas and mineral development, with a particular focus on dealings with corrupt nations.

A final conference report for H.R. 4173, the Wall Street Reform and Consumer Protection Act, unveiled Friday includes amendments originally sponsored by Sens. Richard Lugar, R-Ind., and Ben Cardin, D-Md., that would mandate the new extraction-related disclosures to the SEC,...
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