Proposed U.S. rule ill-equipped to prevent secret payments by oil, gas, forestry & mining companies
When payments remain secret, the intended beneficiaries of a country’s natural resources – its citizens – are instead the first casualties of corruption.Washington, D.C. – The U.S. office of Transparency International urges the U.S. Securities and Exchange Commission (SEC) to revisit its proposed transparency rules for U.S. companies operating in the extractives industry. In a written comment submitted to the SEC, Transparency International details shortcomings of the new proposed rule regarding payments to foreign governments by U.S. companies in the oil, gas, forestry and mining
