MEP Arlene McCarthy, rapporteur for the EU's revision of the Accounting and Transparency Directives, said she was very disappointed by the US court's decision. (PA)
EU lawmakers have reacted strongly against a decision by a United States court to reject a transparency rule forcing oil and gas companies to disclose payments made to foreign governments when operating abroad.
Following pressure from the extraction industry, the US District Court for the District of Columbia this week struck down a rule, under the Dodd-Frank Act, that would have obliged companies listed on a US stock exchange to disclose such payment information in annual reports.
The EU recently forced through a similar transparency rule obliging...
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