Bill Aims To Halt Weapons Contracts Until DOD Ends Audit

Law360, New York (August 3, 2012, 12:06 PM EDT) -- A bipartisan group of U.S. senators introduced a bill Thursday that would force the U.S. Department of Defense to complete a long-planned audit before contracting any new major weapons systems that aren't vital to national security.

The Audit the Pentagon Act, introduced by Sen. Tom Coburn, R-Okla., and co-sponsored by six other Republican senators and two Democrats, would prevent new weapons systems from progressing past research and development until the Pentagon can pass an audit.

The legislation is intended to give Congress enough information to determine...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.