Trump completes repeal of anti-corruption rule

One provision of the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act would require drilling and mining companies to disclose payments they make to foreign governments — an attempt to fight corruption in countries that use repressive work conditions to mostly enrich their rulers.

Former Exxon CEO Rex Tillerson personally lobbied against the requirement, but it nevertheless was included in the final bill.

It took the Securities and Exchange Commission (SEC) until June, 2016 to enact a regulation implementing that section of the law.

Tillerson now is Secretary of State.

In one his first bills signed since taking office, President Trump has signed a bill to prevent the SEC requirement from taking effect.

It was passed by Congress under the Congressional Review Act, meaning it was not subject to a filibuster in the Senate.

For more, read the Politico story.

Click here for more information on the bill to revoke the rule.

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