ApocaDocs: Judge tosses SEC's resource payment disclosure rule

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Posted Wed Jul 3 2013: from Reuters:


	Judge tosses SEC's resource payment disclosure rule http://apocadocs.com/s.pl?1372893754 A U.S. judge tossed out on Tuesday a new rule requiring oil, natural gas and mining companies to disclose payments to foreign governments, in a blow to U.S. securities regulators and human rights groups. U.S. District Judge John Bates said the Securities and Exchange Commission erred in its interpretation of part of the 2010 Dodd-Frank Wall Street reform law that called for the rule and did not properly consider requests for relief. Proponents of the resource extraction rule, including international relief organization Oxfam America, say it would help combat corruption and wasteful spending in resource-rich nations. But business groups say it would cost billions of dollars and yield little shareholder benefit.

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'Doc Michael says:

And the shareholders shall inherit (what's left of) the earth.