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State Dept. backs SEC rule forcing energy company disclosures
January 10, 2013 / 7:12 PM / 5 years ago

State Dept. backs SEC rule forcing energy company disclosures

WASHINGTON, Jan 10 (Reuters) - The State Department said on Thursday it strongly supports a rule forcing energy companies to disclose payments made to foreign governments that is currently being challenged in federal court by four business groups, according to a document provided to Reuters.

The Securities and Exchange Commission’s rule, which was required by the 2010 Dodd-Frank Wall Street reform law, requires that certain companies disclose any payments made to further the exploration, extraction, processing and export of oil, natural gas or minerals.

The State Department document said the SEC rule “directly advances our foreign policy interests in increasing transparency and reducing corruption.”

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