Investors Must Declare Sudan Divestitures: SEC

Law360, New York (April 30, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission said Tuesday that it had adopted rules requiring investment firms to report when they divest the assets of companies located in or doing business with Sudan.

The rules were adopted in accordance with the Sudan Accountability and Divestment Act, which was introduced on Oct. 31 by Sen. Christopher Dodd (D-Conn.) and signed into law by President Bush on Dec. 31.

“The Sudan Accountability and Divestment Act required the SEC to prescribe regulations requiring this disclosure by April 29, 2008,” the...
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