President Trump signed legislation Tuesday to repeal a controversial regulation that would have required energy companies to disclose their payments to foreign governments.
The legislation is the first time in 16 years that the Congressional Review Act (CRA) has been used to repeal a regulation, and only the second time in the two decades that act has been law. It is the third piece of legislation Trump has signed since taking office three weeks ago.
It is the start of one front in an aggressive deregulatory effort that the Trump administration and the GOP Congress are undertaking to roll back Obama-era rules on fossil fuel companies, financial institutions and other businesses that they say have suffered for the last eight years.
The resolution repeals a Securities and Exchange Commission (SEC) rule written under the 2010 Dodd-Frank financial reform law.
It was meant to fight corruption in resource-rich countries by mandating that companies on United States stock exchanges disclose the royalties and other payments that oil, natural gas, coal and mineral companies make to governments.
http://thehill.com/policy/energy-environment/319488-trump-signs-repeal-of-transparency-rule-for-oil-companies
y
= new reply since forum marked as read
