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Measure on disclosure of Iran investments advances

July 8, 2009

WASHINGTON (JTA) -- Legislation requiring publicly traded companies doing business in Iran to disclose their activities to U.S. investors unanimously passed the House Appropriations Committee.

The amendment to the 2010 Financial Services Appropriations Bill would require the Securities and Exchange Commission to set up a process to identify companies doing business with terrorist-sponsoring states, require them to tell their U.S. shareholders and inform them of the nature of the risks in such investments.

"By their nature, terror-sponsoring regimes like Iran remain unstable and pose significant risks to investors, and shareholders have a right to know those risks,” said a statement by U.S. Rep. Mark Kirk (R-Ill.), who sponsored the measure.

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