SEC's postponement of anti-corruption rule frustrates senators

04/17/2011 | Huffington Post, The

Senators who sponsored an anti-corruption measure as part of the Dodd-Frank Act want to know the reason the Securities and Exchange Commission delayed it. The SEC was supposed to finalize the rule, which requires U.S.-listed companies to disclose payments to foreign governments for mining and drilling rights, by Friday. However, the SEC postponed implementation at least until August. "Please let us know the cause of the delay, as well as greater detail on when we should expect to see the final rule issuance," Sens. Richard Lugar, R-Ind., and Ben Cardin, D-Md., wrote in a letter to the SEC.

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