Liberal Forum

House votes to repeal SEC anti-corruption rule for energy companies.

House Republicans on Wednesday voted to repeal an anti-corruption rule the Securities and Exchange Commission instituted last summer requiring energy companies to disclose the taxes and other fees they pay to foreign governments.

The rule mandated oil, gas and mining companies to disclose payments made to foreign governments for development rights.

Republicans and energy companies argued the regulation added costs and caused an unfair disadvantage on overseas projects.

The SEC countered that it would “combat government corruption through greater transparency and accountability.”