By ALEX GUILLEN
OIL INDUSTRY CHALLENGE TO SEC REPORTING RULE HEADS TO COURT: A challenge to an SEC rule requiring energy and mining companies to disclose payments made to foreign governments will get its day in court today. In a case being watched closely by energy, finance and human rights interests, the American Petroleum Institute, U.S. Chamber of Commerce and others will argue that the rule, developed by the SEC under Dodd-Frank Wall Street reform, is overly burdensome and could unveil proprietary information to competitors. Supporters of the rule — the SEC is being represented by attorneys from Oxfam America — argue that it will be an important tool in promoting transparency and combating human rights abuses abroad.
Buckle up: It’s going to be a long hearing. Each side gets 45 minutes to make their case to District Court Judge John Bates, starting at 10 a.m.
Read the full article at POLITICO.