Dodd-Frank Provision: Human Rights Groups Call On SEC To Finalize Rule

[KoKo]

(why this is concerning is that poor countries like Ghana see their oil and mineral resources pumped out without any accountability to the people for the money the companies make and this has been going on for decades and more)


Dodd-Frank Provision: Human Rights Groups Call On SEC To Finalize Rule
Dan Froomkin

A major international anti-corruption provision in the Dodd-Frank financial reform legislation remains stalled at the Securities and Exchange Commission, a year after the bill was passed by Congress and three months after the provision was supposed to go into effect.

Human rights groups on Thursday called on the Securities and Exchange Commission to hurry up and issue a final rule instructing publicly traded companies listed on U.S. stock exchanges to start disclosing exactly how much they pay foreign governments to acquire drilling and mining rights.

The measure is intended to make it more difficult for foreign leaders to secretly abscond with some fraction of the billions of dollars that energy and mining companies pay them each year.

"I think they've had enough time," said Corinna Gilfillan, who heads the U.S. office of Global Witness, a group that works to stop natural resource corruption. Her worry, she said, is that the pro-accountability movements all over the globe that were electrified by the passage of Dodd-Frank will start to lose energy. Gilfillan spoke at a press event on Thursday, the eve of Dodd-Frank's one-year anniversary.

More at........
http://www.huffingtonpost.com/2011/07/14/groups-call-on-sec-to-mov_n_898418.html