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Judges Question SEC Rule on Foreign Govt Oil Payments
Mar. 22, 2013 02:38PM PST
Oil and Gas InvestingBloomberg reported that appeals court judges have questioned the US Securities and Exchange Commission’s regulation which requires public companies engage in oil extraction to reveal payments made to foreign governments.
Bloomberg reported that appeals court judges have questioned the US Securities and Exchange Commission’s regulation which requires public companies engage in oil extraction to reveal payments made to foreign governments.
As quoted in the market news:
The rule obligates oil, gas and mining companies to disclose payments of $100,000 or more on a form filed to the SEC’s Edgar public database for fiscal years ending after Sept. 30. It also requires companies to disclose payments made to the U.S. government.