Rep. Barney Frank, chairman of the House Financial Services Committee, urged the Securities and Exchange Commission Friday to either create a more accurate Web site identifying corporations with investments in "terrorist-financing states" or remove it altogether. Frank expressed concern about how the list was compiled and asked the SEC to consider using a new methodology. The Web site allows investors to search for companies who do business in countries that have been designated as "state sponsors of terrorism" as defined by the State Department — Cuba, Iran, North Korea, Sudan and Syria. Among the businesses that have been "named and shamed" on the SEC's Web site include Siemens AG, BP plc, Unilever, HSBC Holdings plc, Nokia Corp. and Benetton Group. And oil firm Baker Hughes Inc. also makes the list even though it says it stopped doing business with Sudan two years ago. But what about Halliburton Co., Dick Cheney's old company, which has for years done business with Iran through an offshore subsidiary it set up in the Cayman Islands. While Baker Hughes is stuck on the list, Halliburton, which only ceased operations in Iran in April 2007, has already been removed. —Donna Block
See Rep. Frank's letter
See the list from the SEC
Tags: politics, democrats, democrat, Securities and Exchange Commission, terrorism
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