According to a report in the FT, US companies will be pressed to disclose business relationships with Syria and Iran. Iran is the subject of sanctions. Syria’s brutal government has killed hundreds of protestors.
The paper reports that
The US Securities and Exchange Commission has written to several companies in the past few months asking why they had not disclosed business dealings in Syria, Iran, Sudan and Cuba. The inquiries are part of SEC reviews of companies’ investment risks to security holders.
Sony, Caterpillar, American Express, Aecom Technology, Iridex, and Veolia Environnement are among the companies that received letters from the SEC’s corporate finance division. Their responses show how sales have shrivelled with tighter international sanctions and how some companies, such as Sony, have found middle-men in Dubai and other countries to keep limited supply lines open.
The relationships could be large enough in money and revenue that some of the companies face meaningful erosion of revenue
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