U.S. SEC votes to relax requirements on companies' 'resource extraction' disclosure to foreign governments

The U.S. Securities and Exchange Commission on Wednesday voted to relax disclosure requirements on payments made by oil, gas and mining companies to foreign governments.

The agency's 3-2 vote to adopt industry-friendly changes to its so-called "resources extraction" disclosure rule addresses a decade-long, controversial Dodd-Frank mandate on how to spot potential corruption by firms.