EU Advances Transparency Rules For Oil, Gas, Mining Cos.

Law360, New York (April 9, 2013, 5:53 PM EDT) -- The European Union struck a deal Tuesday on a law requiring large companies to disclose payments made to foreign governments for the right to extract oil, natural gas and other resources, matching a similar U.S. requirement that the U.S. Securities and Exchange Commission began enforcing last year.

Once formally approved by the European Parliament and Council, large oil, gas, mining and logging companies will have to disclose any payments over €100,000 ($131,000) made to governments around the world, which the law's supporters say will help prevent...
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