Sens. Urge Strong SEC Transparency Rule For Oil Cos.

Law360, New York (February 1, 2012, 1:34 PM EST) -- Five Senate Democrats on Tuesday urged the U.S. Securities and Exchange Commission to ignore oil and gas industry pressure and issue a strong rule requiring SEC-registered companies to report how much they pay U.S. and foreign governments for access to their oil, gas and minerals.

In a letter to SEC Chairwoman Mary L. Schapiro, Sens. Benjamin Cardin, D-Md., Charles Schumer, D-N.Y., Patrick Leahy, D-Vt., Carl Levin, D-Mich., and John Kerry, D-Mass., expressed concern that the SEC has not yet issued a final rule implementing the transparency...
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