UANI Applauds the SEC for Acknowledging Need for Companies to Disclose Iran Business

FOR IMMEDIATE RELEASE July 21, 2010 Contact: Kimmie Lipscomb, press@uani.com Phone: (212) 554-3296 UANI Applauds the SEC for Acknowledging Need for Companies to Disclose Iran Business New York, NY - United Against Nuclear Iran (UANI) applauds the Securities and Exchange Commission for acknowledging the need for companies to disclose their business in Iran. In testimony yesterday to the House Financial Services Committee, SEC Chairwoman Mary Schapiro said that "There are punitive sanctions that can be levied against companies that violate the Iran Sanctions Act," and that these sanctions "can create material contingent liabilities that need to be disclosed by public companies." UANI renews its call for the SEC to take definitive action to require companies to disclose their Iran business. UANI President, Ambassador Mark D. Wallace, in a statement said: It is time for companies to be transparent about their business in Iran so that the American people can hold them accountable for that business. As business in Iran is material, American investors have a right to know if they are investing in a company that does business with a state sponsor of terrorism that is subject to crippling sanctions, and therefore substantial financial risk. Such information is also critical for ensuring that the U.S. Government can make informed decisions about the companies with which it does business. UANI has been at the forefront of the campaign to require companies to disclose their business in Iran. On January 12, 2010, UANI launched the "Iran Disclosure Project," an initiative to identify publicly-traded companies that have business dealings in Iran and ensure that such companies adequately inform investors of the legal and financial peril associated with such dealings. Through the Iran Disclosure Project, UANI has targeted such companies as Royal Dutch Shell, Caterpillar, Ingersoll Rand, KPMG, and Honeywell to disclose the full extent of their business in Iran. In May, UANI called on the SEC to take definitive action to require companies to disclose their Iran business. UANI proposed two options that would allow the SEC to take such definitive action: a staff interpretative release or a new SEC regulation. Click here to learn more about the Iran Disclosure Project. Click hereto read UANI's proposed new SEC regulation. # # # United Against Nuclear Iran (UANI) is a program of the American Coalition Against Nuclear Iran, Inc., a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. The prospect of a nuclear-armed Iran should concern every American and be unacceptable to the community of nations. Since 1979 the Iranian regime, most recently under President Mahmoud Ahmadinejad's leadership, has demonstrated increasingly threatening behavior and rhetoric toward the US and the West. Iran continues to defy the International Atomic Energy Agency (IAEA) and the United Nations in their attempts to monitor its nuclear activities. A number of Arab states have warned that Iran's development of nuclear weapons poses a threat to Middle East stability and could provoke a regional nuclear arms race. In short, the prospect of a nuclear armed Iran is a danger to world peace. United Against Nuclear Iran (UANI) is a non-partisan, broad-based coalition that is united in a commitment to prevent Iran from fulfilling its ambition to become a regional super-power possessing nuclear weapons. UANI is an issue-based coalition in which each coalition member will have its own interests as well as the collective goal of advancing an Iran free of nuclear weapons. The Objectives of United Against a Nuclear Iran Inform the public about the nature of the Iranian regime, including its desire and intent to possess nuclear weapons, as well as Iran's role as a state sponsor of global terrorism, and a major violator of human rights at home and abroad; Heighten awareness nationally and internationally about the danger that a nuclear armed Iran poses to the region and the world; Mobilize public support, utilize media outreach, and persuade our elected leaders to voice a robust and united American opposition to a nuclear Iran; Lay the groundwork for effective US policies in coordination with European and other allies; Persuade the regime in Tehran to desist from its quest for nuclear weapons, while striving not to punish the Iranian people, and; Promote efforts that focus on vigorous national and international, social, economic, political and diplomatic measures. UANI is led by an advisory board of outstanding national figures representing all sectors of our country.

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