API ramps up attack against SEC over disclosure policy

01/30/2013 | Wall Street Journal, The

The American Petroleum Institute, the U.S. Chamber of Commerce and other trade groups criticized the Securities and Exchange Commission for its rule that requires oil, natural gas and mining firms to report payments to foreign governments. The policy goes against the First Amendment, as it requires speech that could be applied in political advocacy, according to a filing. "That the disclosures are factual does not divest them of their political character," the filing states.

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