US Treasury Department recommends gutting key transparency measures

The Trump administration’s attempt to gut Sections 1502 and 1504 of Dodd-Frank is nothing more than an ideological assault on critical regulations aimed at preventing corruption and the financing of conflict around the world. Propped up by baseless claims and supported by business interests that prioritize profits over people, Treasury’s recommendations are undermined by investors managing trillions of dollars who have made it clear that these rules are material and necessary for assessing risk in oil, gas and mining operations. These recommendations would also jeopardize Treasury’s ability to enforce its own sanctions by reducing corporate disclosures about possible links to the criminal and corrupt. This signals the continuing decline of American leadership to tackle corruption, endangering our national security and investment climate. - Carly Oboth, Policy Advisor, Conflict Resources Team