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Lawmakers Plan To Tighten Sanctions On Iran

Law360 (February 17, 2011, 1:29 PM EST) -- Newly introduced bipartisan legislation would require companies to report to the U.S. Securities and Exchange Commission any investments in Iran's energy sector subject to U.S. sanctions and require American banks to report sanctionable activities by foreign affiliates.

Sens. Kirsten Gillibrand, D-N.Y., and Mark Kirk, R-Ill., Reps. Ted Deutch, D-Fla. and Dan Burton, R-Ind., introduced the Iran Transparency and Accountability Act on Wednesday.

They said the bill would strengthen the current Iran sanctions regime by extending the SEC's explicit authority to require the disclosure of business dealings...
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