Report: U.S. Orders Companies to Disclose Iran, Syria Ties

According to Financial Times, Sony Corps and American Express among companies told by U.S. Securities and Exchange Commission to reveal their dealings with countries deemed 'state sponsors' of terror.

At least a dozen U.S.-listed companies have been told by the U.S. Securities and Exchange Commission to disclose business activity in and with Syria, Iran and others deemed "state sponsors" of terror by the state department, the Financial Times said on Sunday.

The inquiries are part of SEC reviews of companies' investment risks to security holders.
Sony Corp, Caterpillar Inc, American Express, Aecom Technology, Iridex and Veolia Environnement are among the companies that received letters from the SEC's corporate finance division, the report said.

Barack Obama - AP - 16.8.11

Their responses show how sales have shriveled with tighter international sanctions, the FT said.

The U.S. has been pushing for tougher sanctions on Iran, rallying its Western allies toward restrictions on financial dealings with Iran and targeting the country's petroleum industry.

On November 22, Washington expanded sanctions on Iran to target the supply of goods, services, technology, or support to Iran for the development of its petroleum resources and maintenance or expansion of its petrochemical industry.

The U.K. and Canada said they would join Washington in escalating financial measures against the Islamic Republic.

The steps come in response to a Nov. 8 report by the International Atomic Energy Agency (IAEA) that presented intelligence suggesting Iran had worked on designing an atomic bomb and may still be secretly carrying out related research. Iran says its nuclear work is entirely peaceful.