Regulatory Alerts2015-12-23 | 2015-31702Added
Disclosure of Payments by Resource Extraction Issuers
The Securities and Exchange Commission proposes Rule 13q-1 and amendments to Form SD to implement Section 1504 of the Dodd-Frank Act following the vacatur of its 2012 rules. The proposal requires resource extraction issuers to publicly disclose in their annual reports the type and total amount of payments made to foreign and federal governments for the commercial development of oil, natural gas, or minerals. These disclosures must be provided on a project-by-project basis and submitted in an interactive data format to enhance transparency and combat corruption in resource-rich countries.
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