A Huge Victory for Global Justice | The Nation

6 Sep

On August 22, the SEC issued regulations that will force oil, gas and mining companies that are listed on US stock exchanges to publish what they pay to foreign governments. The new regulations will finally enforce an anti-corruption section of the 2010 Dodd-Frank financial reform law, known as the Cardin-Lugar amendment, which requires some 1,100 resource companies to break down their payments and report them in revealing detail. In the more than two years since the law passed, Big Oil lobbyists tried ferociously—and failed—to water down the new transparency regulations.

The SEC decision is the biggest single victory in many years for poor people across the Third World. No longer will the big oil and mining companies be able to hide their under-the-table payments to crooked governments in Africa, Latin America and Asia.

via A Huge Victory for Global Justice | The Nation.

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