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Article content Both Democrats on the commission voted against the rule, which requires only aggregated information at a national level in most cases, instead of on a contract-by-contract basis. SEC chair Jay Clayton said crafting the rule had been tricky given the constraints imposed by the Congressional Review Act but that, overall, it achieved “the statutory objective of promoting the transparency of resource extraction issuers’ payments to governments.” Democratic SEC Commissioner Allison Lee said the rule does not demand the “detail” that would enable regulators to spot potenti...

SEC Schedules Vote on Controversial Extractive Industry Rule The latest version of the rule seeks to reduce the compliance burden on oil, gas and mining companies, but has drawn opposition from anticorruption advocates The SEC is scheduled to vote Wednesday on a rule requiring the disclosure of payments made by oil, gas and mining companies to foreign governments. Photo: delil souleiman/Agence France-Presse/Getty Images By Dec. 14, 2020 5:30 am ET The U.S. Securities and Commission is scheduled to vote this week on a rule mandating the disclosu...