SEC Oil, Mining Disclosure Rules Could Upset Foreign Deals

Law360, New York (November 14, 2012, 8:49 PM EST) -- Energy and mining companies could be forced to reopen contracts or sell projects to comply with a new U.S. Securities and Exchange Commission requirement to disclose what they pay to foreign governments, a rule attorneys say could clash with concession terms or local laws that demand confidentiality.

The agency last week rejected a request from oil industry groups to delay or reconsider the rule, which was first unveiled in August. It requires SEC-listed miners and drillers to report what they pay for licenses, permits, taxes, royalties,...
To view the full article, register now.