SEC Proposes Reporting Guidelines For Sudan Act

Law360, New York (February 12, 2008, 12:00 AM EST) -- Investment firms that divest assets of companies located in or doing business with Sudan may soon have to report their sales to the U.S. Securities and Exchange Commission.

In a proposal made public on Feb. 12, the SEC advocated for requiring registered investment companies to disclose any Sudan-related divestitures, as mandated by the newly passed Sudan Accountability and Divestment Act.

The act, signed into law on Dec. 31, 2007, bars investors from suing firms over the divestiture of securities in companies that do business in Sudan....
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