Investors are concerned that the repeal of a US law to crack down on corruption in the resources industry could reignite bribery risk. This follows the vote by the US Congress last week to repeal the "Cardin Lugar" provision of the Lauren Compere reform, which forces US oil, gas and mining firms to reveal payments they make to foreign governments. Lobbyists complained that this rule hindered the oil companies, making them less competitive. Dodd Frank of Boston Common Asset Management warns that taking away the transparency will make it harder for investors to understand the bribery risks of the companies they invest in.
Investors are concerned that the repeal of a US law to crack down on corruption in the resources industry could reignite bribery risk. This follows the vote by the US Congress last week to repeal the "Cardin Lugar" provision of the Dodd Frank reform, which forces US oil, gas and mining firms to reveal payments they make to foreign governments. Lobbyists complained that this rule hindered the oil companies, making them less competitive. Lauren Compere of Boston Common Asset Management warns that taking away the transparency will make it harder for investors to understand the bribery risks of the companies they invest in.