Soros 1, Exxon 0: SEC approves oil payments disclosure rule

[maddezmom]

Source: The Hill

Soros 1, Exxon 0: SEC approves oil payments disclosure rule
By Ben Geman - 08/22/12 01:07 PM ET

A divided Securities and Exchange Commission approved regulations Wednesday that will force oil and mining companies to disclose payments to foreign governments.

The 2-1 SEC vote for the rules caps a two-year, behind-the-scenes battle that pitted oil companies like Exxon against human groups and their allies like George Soros and Bill Gates.

The rules are required under the 2010 Dodd-Frank financial reform law. The final rules do not appear to contain several provisions that the oil industry sought, including exemptions from the SEC filing mandate if foreign governments prohibit the disclosure.

The law forces SEC-listed oil, natural gas and mining companies to reveal payments to governments related to projects in their countries, such as money for production licenses, taxes, royalties and other aspects of energy and mineral projects.

Read more: http://thehill.com/blogs/e2-wire/e2-wire/244757-soros-1-exxon-0-sec-approves-oil-payments-disclosure-rule

[marble falls]

1. This is actual real good news. If they have to expose their earnings, those individuals .....

who own these industries will have to do the same to some degree, too.

[underpants]

2. Well done

I just found something else to research....thanks. This must be good. It sounds like good news.