EU politicians vote for tough oil, gas anti-corruption law
September 18, 2012 14:47
BRUSSELS - European Union legislators have voted for a draft anti-corruption law, echoing rigorous US rules to make oil, gas and mining firms declare payments they make in resource-rich nations.
Pressure has mounted on the EU to take a tough line after the US regulator in August set demanding rules for US-listed firms.
Tuesday's series of votes in the European Parliament backed detailed reporting to regulatory authorities starting from a minimum threshold of 80,000 euros ($105,100), almost identical to the $100,000 US requirement and far lower than the million-dollar level some resource firms had said was practical.