Law Passed by Deutch Shining Light on Corporate Ties to Iran

Statement

Legislation written by Congressman Ted Deutch (D-FL) and signed into law by President Obama as part of the Iran Threat Reduction Act is now actively forcing major companies to disclose their investments in Iran as part of their public regulatory filings. Among the U.S. companies now disclosing business relationships with Iran to the Securities and Exchange Commission (SEC) are Citigroup, JP Morgan Chase, Neiman Marcus, ExxonMobil, BP, and PepsiCo. The Iran Transparency and Accountability Act, the first bill introduced by Deutch upon arriving in Congress, was crafted to expose corporate ties to Iran to American investors and as a result further alienate the Iranian regime from the international financial system.

"The Iran Transparency and Accountability Act was crafted to shine a light on American companies whose business relationships with Iran bolster the regime's illicit quest for nuclear weapons," said Congressman Deutch, who was recently elected Ranking Member of the House Foreign Affairs Committee's Middle East and North Africa Subcommittee for the 113th Congress. "American investors now have the power to divest their dollars from businesses with ties to a regime that threatens our national security, endangers the very existence of Israel, and risks destabilizing the entire Middle East."

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