SEC sets date for transparency vote

Vote set: SEC will vote 22 August on key provision in Dodd-Frank

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By Staff & news wires

 02 July 2012 23:12 GMT

After a long delay, the US Securities and Exchange Commission has set a date to vote on controversial new rules requiring companies to disclose payments to governments and whether any of their products use certain African "conflict minerals".

The SEC said it would meet on 22 August to publicly vote on the two sets of rules, which are required by the 2010 Dodd-Frank Wall Street reform law, Reuters reported.

The conflict minerals rule would require companies to disclose whether they use tantalum, tin, gold or tungsten from the Democratic Republic of the Congo.

The other rule would require oil, gas and mining companies to disclose payments they make to governments.

In addition, the SEC said it would also vote on a proposal required by the newly enacted Jobs Act which…

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