SEC Ponders Changing 30-Year-Old Oil And Gas Rules

Law360, New York (February 21, 2008, 12:00 AM EST) -- In a move toward greater transparency and modernization, the U.S. Securities and Exchange Commission is considering revisions to the rules for companies reporting oil and gas reserves. The rules have not been changed in nearly three decades.

The public comment period on the matter opened in December and ended on Wednesday. More than 70 comments were collected, many in favor of modifying the disclosure rules.

Changing the rules would “enable companies to communicate with their shareholders and with the market what their business is about, what...
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