Clinton Presses For Firm SEC Rule On Foreign Oil Payments

Law360, New York (February 29, 2012, 2:49 PM EST) -- Secretary of State Hillary Clinton expressed strong support Tuesday for a U.S. Securities and Exchange Commission rule that would require oil and mining companies to disclose payments to governments of foreign nations where the companies extract resources.

Clinton made remarks to the Senate Foreign Relations Committee in support of the rule, section 1504 of the Dodd-Frank Act, encouraging the SEC to “go as far as possible” with the regulation and ignore pressure from oil companies to weaken the proposed rule.

“We know that there are challenges...
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