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2007 Laws of Maryland
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Ch. 40
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stated, "at this hour, the world is witnessing terrible suffering and horrible crimes in
the Darfur region of Sudan, crimes my government has concluded are genocide"; and
WHEREAS, On September 25, 2006, the United States Congress reaffirmed
that "the genocide unfolding in the Darfur region of Sudan is characterized by acts of
terrorism and atrocities directed against civilians, including mass murder, rape, and
sexual violence committed by the Janjaweed and associated militias with the
complicity and support of the National Congress Party—led faction of the Government
of Sudan"; and
WHEREAS, On September 26, 2006, the United States Congress stated that "an
estimated 300,000 to 400,000 people have been killed by the Government of Sudan and
its Janjaweed allies since the Darfur crisis began in 2003, more than 2,000,000 people
have been displaced from their homes, and more than 250,000 people from Darfur
remain in refugee camps in Chad"; and
WHEREAS, The Darfur crisis represents the first time the United States
Government has labeled ongoing atrocities a genocide; and
WHEREAS, The federal government has imposed sanctions against the
Government of Sudan since 1997, that are monitored through the United States
Treasury Department's Office of Foreign Assets Control (OFAC); and
WHEREAS, According to a former chair of the United States Securities and
Exchange Commission (SEC), "the fact that a foreign company is doing material
business with a country, government, or entity on OFAC's sanctions list is, in the SEC
staffs view, substantially likely to be significant to a reasonable investor's decision
about whether to invest in that company"; and
WHEREAS, In response to the financial risk posed by investments in companies
doing business with a terrorist—sponsoring state, the SEC established its Office of
Global Security Risk to provide for enhanced disclosure of material information
regarding such companies; and
WHEREAS, Despite significant pressure from the United States government,
the Republic of Sudan fails to take necessary actions to disassociate itself from its ties
to terrorism and genocide; and
WHEREAS, Companies supporting such ties with terrorism and genocide
present further material risk to remaining investors of these companies; and
WHEREAS, It is a fundamental responsibility of the State to decide where, how,
and by whom financial resources in its control should be invested, taking into account
numerous pertinent factors; and
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- 842 -
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