Looming Repeal Of SEC Oil & Gas Rule Stokes Bribery Fears

Law360, New York (February 2, 2017, 9:17 PM EST) -- The likely repeal of a regulation that requires oil and gas extraction companies to disclose their payments to governments will make it easier for those firms to hide potentially corrupt payments from their investors and allow them to continue greasing the palms of foreign officials, anti-corruption activists say.

Following through on Republican threats to strike down recent Obama administration regulations using the Congressional Review Act, the GOP-led U.S. House of Representatives voted Wednesday to disapprove of the U.S. Securities and Exchange Commission regulation, which went on the books in June. The rule requires oil and gas companies to file reports that...

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