SEC Enacts Resource Extraction Disclosure Rules
After almost a decade of attempting to issue similar rules, on December 16 the SEC adopted amendments that would require resource extraction companies to disclose payments made to foreign governments or to the U.S. federal government for the commercial development of oil, natural gas, or minerals. By requiring disclosure at the national and major subnational political jurisdiction level, rather than the contract level, this version of the final rules mandates less disclosure than the SEC’s previous resource extraction disclosure rules.
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