February 10, 2012
Dear SEC Commissioners,
Please do not give in to industry pressures on Section 1504 of the Dodd-Frank Act (the Cardin-Lugar Amendment) - and make sure that ALL companies are covered, every country and every project gets reported, and loopholes that would allow large sums of money to go unreported are closed.
My Comment:
Sirs/Madam of the SEC, After the BP debacle and recent world problems associated with oil/gas well drilling. Major oil companies are still doing business as usual with NO accountability, except the occassional slap on the hand by the courts in the form of fines. The SEC needs to ensure and enforce the Frank-Dodd Act for complete transparency in all and every contractual agreement where money is involved or exchanged between parties. In otherwords insist on a full report of each and every payment made to any company, individual or Government as being reportable within 15 days of that transaction and publicly available to anyone who inquirers. Do not fail in your constitutionally promulgated duties given you by our Congress; to insist on this reporting and enforcement. Do not surcome to outside paid lobbyists or industry pressures for a watered down bill especially section 1504 with no exemptions or loopholes. Stand fast an other nations will follow suite with there laws mimicing those of the US SEC
Geoff Daly