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Congress votes to overturn SEC rule requiring more transparency in natural resources industry

Feb 04, 2017 - Legal Monitor Worldwide
Board and Executive Moves

(JURIST) - The US Senate voted 52-48 to approve a resolution Thursday that would repeal a Securities and Exchange Commission rule requiring oil, gas and mineral companies to disclose payments made to foreign governments. The rule, officially known as the Disclosure of Payments by Resource Extraction Issuers, was adopted in June as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act and was designed to "promote greater transparency" in the resource extraction industry, according...