Sudan Accountability and Divestment Act of 2007 Signed into Law

January 08, 2008
President Bush recently signed into law the Sudan Accountability and Divestment Act of 2007, which allows fund managers and other investment advisers, as well as states and local governments, to adopt measures to facilitate divestment from companies involved in four key business sectors in Sudan: oil, power production, mineral extraction, and military equipment. The purpose of the Act is to codify the rights of investors and their fiduciaries to hold and relinquish assets in accordance with their responsibilities to guard against economic and reputational risks associated with investments in companies that conduct business operations in Sudan while the political and humanitarian crisis continues in the Darfur region of Sudan, as long as in doing so, fund managers continue to adhere to their fiduciary duties, and state and local governments adhere to the limited authorization provided by the Act.