Transparency can be enforced by other means, they say, from mandatory reporting to the use of data repositories that record details of trades.
Frank's legislation would require mandatory reporting by companies registered with the Securities and Exchange Commission, and the U.S. oil industry thinks this goes too far.
Prosecutors also highlighted a gap in New York's mandatory reporting laws.
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Assemblywoman Margaret Markey, a Queens Democrat who has spent years championing a bill that would eliminate New York's statute of limitations, said she would be amending her bill, or write a supplementary bill, to close the mandatory reporting loopholes.
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He stated that Ohio is a mandatory abuse reporting state, so any suspected abuse had to be reported by law.
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Several states, including Pennsylvania, are now considering broadening their mandatory-reporting laws.
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Even if no mandatory SEC reporting requirements are forthcoming, at the very least, the guidance provides corporations with the opportunity and to ask internally whether they are doing enough to secure their computer systems.
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In September, the EPA put forth a new Mandatory Emissions Reporting Rule that will require all facilities that directly emit or supply products or fuels that discharge more than 25, 000 metric tons of carbon dioxide a year to report those emissions by volume and source annually, effective January 2010.
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Although the SEC guidance is not mandatory, the SEC is likely to make certain cyber incident reporting requirements mandatory in the future and corporations should be ready to meet such requirements.
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Of course, the price of the lost hardware is the smallest cost, with the biggest ones being lost IP and the costs of complying with mandatory data breach reporting regulations.
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There is a suggestion that the mandatory requirement for quarterly reporting be dropped, but multinational companies will still have to report quarterly to their American investors.
Only seven states and the District of Columbia make reporting a stolen gun mandatory.
If successful in San Francisco, the reporting network could become mandatory worldwide through the U.N.
In a petition on its website, the group says it agrees with the goal of the legislation, but argues that mandatory patient record checking, prescription reporting, and penalties for physicians who fail to do so would create undue administrative burdens for doctors.
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The visitors would reportedly be exempted from reporting to the police, which is mandatory for most Pakistani travellers in India.
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