A House subcommittee today is scheduled to examine the disclosure rules governing transactions by corporations with relatives of corporate officers. The one-day hearing will focus on Mobil Oil Corp.
Stanley Sporkin, former enforcement chief of the Securities and Exchange Commission, is scheduled to testify before the hearing along with other SEC witnesses. Sporkin is now the general counsel of the Central Intelligence Agency.
Mobil Corp. Chairman Rawleigh Warner Jr. and Mobil President William P. Tavoulareas declined an invitation to testify at the hearing, which is being conducted by the House Energy and Commerce subcommittee on oversight and investigations.
In 1979, Sporkin directed a confidential SEC investigation into the involvement of Mobil's president in the oil company's decision in 1974 to enter a Saudi Arabian joint venture whose business would be managed by a London-based ship management firm, Atlas Maritime Co.
Peter W. Tavoulareas, son of Mobil's president, helped to found Atlas and today owns 50 percent of the company that manages a number of Mobil-owned supertankers for the Saudi Arabian joint venture.
The SEC inquiry was closed last summer with no enforcement action.
Mobil's president and his son filed a $50 million libel suit against The Washington Post in November, 1980, for articles The Post published in late 1979 about the Atlas arrangement.
Mobil's two top officers, Warner and Tavoulareas, declined to attend today's hearing in part, according to a letter from their corporate counsel to the committee, because of the pending litigation against The Post.
In addition, Mobil's president has subpoenaed committee chairman John D. Dingell (D-Mich.) to give testimony in the suit against The Post. House Speaker Thomas P. O'Neill has directed Dingell not to comply with the subpoena at the present time.