Groups hail rebuke of SEC disclosure rule

News
July 2, 2013
By OGJ editors 
 
Industry groups hailed a court decision vacating a Securities and Exchange Commission requirement for increased disclosure by US energy companies of international financial information.
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Karen Harbert, president and chief executive officer of the US Chamber of Commerce’s Institute for 21st Century Energy, said the SEC rule “would have placed American oil and natural gas companies at a huge disadvantage around the world by forcing them to turn over their playbooks for how they bid and compete against foreign, state-owned companies.”
 
She said compliance with the SEC rule would violate laws of several countries in which US companies conduct business.
 
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