{"id":135109,"date":"2017-02-03T10:00:49","date_gmt":"2017-02-03T15:00:49","guid":{"rendered":"https:\/\/www.one.org\/us\/?post_type=one_press&amp;p=135109"},"modified":"2017-02-03T10:00:49","modified_gmt":"2017-02-03T15:00:49","slug":"the-one-campaign-laments-the-senates-repeal-of-important-anti-corruption-rule","status":"publish","type":"one_press","link":"https:\/\/www.one.org\/us\/press\/the-one-campaign-laments-the-senates-repeal-of-important-anti-corruption-rule\/","title":{"rendered":"The ONE Campaign laments the Senate\u2019s repeal of important anti-corruption rule"},"content":{"rendered":"<p>WASHINGTON \u2014 The Senate voted 52-47 today to void a rule that implemented Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.\u00a0The rule would have required all U.S.-listed oil, gas, and mining companies to report the payments they make to governments for the extraction of natural resources. This vote follows the House\u2019s move Wednesday to overturn the same rule.<\/p>\n<p>The ONE Campaign issued the following reaction from <strong>Tom Hart, ONE\u2019s North America Executive Director<\/strong>:<\/p>\n<p>\u201cWe are extremely disappointed by Congress\u2019 vote today to void this bipartisan, common-sense rule aimed at curbing corruption, fighting extreme poverty, and promoting US national security. This rule was a potent tool to ensure the legitimate payments from American companies don\u2019t end up in kleptocrats\u2019 Swiss bank accounts. This tool wasn\u2019t anti-corporate, it was anti-corruption.<\/p>\n<p>\u201cToday\u2019s repeal also threatens to set us behind the global transparency standard and enable corruption at a time when we should be trying harder to stop it. To ensure a level playing field globally, the SEC must draft a new rule that aligns with laws already in place in 30 countries around the world.<\/p>\n<p>\u201cCorruption keeps people in poor countries trapped in poverty. The publication of oil, gas, and mining payments empowers citizens to hold their governments accountable and curb corruption and mismanagement of revenues.<\/p>\n<p>\u201cThis action sends the wrong message about U.S. leadership in countering corruption around the world, to our allies who follow the example we set and citizens in poor countries who look to us for support as they try to hold their own governments accountable. We will continue to fight for a strong rule to implement this anti-corruption law, and we urge President Trump to veto it and stand up for anti-corruption efforts around the world.\u201d<\/p>\n<p><strong>Notes to editors<\/strong><\/p>\n<ul>\n<li>Equivalent mandatory disclosure legislation has been enacted in 30 other countries around the world, including in Canada, the European Union, and Norway.<\/li>\n<\/ul>\n<ul>\n<li>Major oil, gas and mining firms such as Total, BHP Billiton, Newmont Mining, and Eni have publicly supported Section 1504, recognizing the benefits of transparency and a U.S. law that aligns with the global transparency standard.<\/li>\n<li>This Congressional action, if signed by President Trump, does not repeal the underlying anti-corruption law, which still stands. The Securities &amp; Exchange Commission will be required to write a new rule to implement it.<\/li>\n<\/ul>\n<div class=\"buffer\"><\/div>","protected":false},"excerpt":{"rendered":"<p>WASHINGTON \u2014 The Senate voted 52-47 today to void a rule that implemented Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.\u00a0The rule would have required all U.S.-listed oil, gas, and mining companies to report the payments they make to governments for the extraction of natural resources. This vote follows [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"template":"","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"contributor":[],"class_list":["post-135109","one_press","type-one_press","status-publish","hentry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>The ONE Campaign laments the Senate\u2019s repeal of important anti-corruption rule - ONE.org US<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.one.org\/us\/press\/the-one-campaign-laments-the-senates-repeal-of-important-anti-corruption-rule\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The ONE Campaign laments the Senate\u2019s repeal of important anti-corruption rule\" \/>\n<meta property=\"og:description\" content=\"WASHINGTON \u2014 The Senate voted 52-47 today to void a rule that implemented Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.\u00a0The rule would have required all U.S.-listed oil, gas, and mining companies to report the payments they make to governments for the extraction of natural resources. 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