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Dodd-Frank disclosure provision would harm US publicly traded firms

04/04/2011
Nick SnowWashington EditorA provision of the Dodd-Frank financial reform law that imposes a requirement for publicly traded US oil and gas companies to disclose payments to foreign governments could actually give their overseas competitors a significant competitive advantage, an American Petroleum Institute official suggested.The law's Section 1504 requires US companies to publicly disclose detailed information about such payments, according to Misty McGowen, API's federal relations director. This could mean they would be required to report individual payments on every single well, potentially exposing confidential, proprietary business information to global competitors, she said."Th...
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