SEC Sued Over Dodd-Frank Disclosure Rule

Law360, New York (October 10, 2012, 7:10 PM EDT) -- Four business groups sued the U.S. Securities and Exchange Commission on Wednesday, claiming the agency had exceeded its authority in carrying out a Dodd-Frank provision requiring companies to disclose what they pay foreign governments for the right to extract oil, natural gas and other resources.

According to the suit — filed by the American Petroleum Institute, U.S. Chamber of Commerce, Independent Petroleum Association of America and National Foreign Trade Council — the SEC rule, adopted in August, will force companies to reveal sensitive information to competitors...
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.