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SEC Sued by Oxfam Over Dodd-Frank Rule on Mining Payments

The U.S. Securities and Exchange Commission was sued by Oxfam America Inc., for failing to issue a rule requiring energy and mining companies to disclose payments to governments for the extraction of natural resources.

The disclosures would be “a huge boost in the fight against corruption, mismanagement and poverty,” the relief and development group said today in a statement about the suit, which was filed in Boston federal court.