SEC Must Redo Payment Disclosure Rule: Petroleum Group

Law360, New York (January 24, 2012, 3:55 PM EST) -- A petroleum industry lobbying group on Thursday asked the U.S. Securities and Exchange Commission to rewrite a new rule requiring oil, natural gas or mineral companies to disclose certain payments made to the U.S. or foreign governments, saying the rule as written would harm businesses.

The rule, required under the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act, has generated debate between advocates such as human rights groups, who say it could help end corruption and violence, and opponents such as oil companies, who say...
To view the full article, register now.