Groups hail rebuke of SEC disclosure rule

07/15/2013
Industry groups hailed a court decision vacating a Securities and Exchange Commission requirement for increased disclosure by US energy companies of international financial information. The US District Court for the District of Columbia struck down a rule, implemented as part of the Dodd-Frank financial reform law, requiring publicly traded extractive-industry companies to report taxes, royalties, and license and other fees paid to foreign governments. A business coalition that included the American Petroleum Institute and Independent Petroleum Association of America challenged the requirement in court, saying disclosure of the commercially sensitive information would hurt the abilities o...
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