Today, the Securities and Exchange Commission (SEC) voted in favor of a proposed rule for Section 1504 of the Dodd-Frank Act. Publish What You Pay – United States welcomes the decision by the SEC to propose a rule in line with the international standard on extractives payment transparency.
PWYP-US submitted this letter to the Securities and Exchange Commission’s rulemaking record for its implementing rule for Section 1504 of the Dodd-Frank Act. View it on the SEC website. For a comprehensive analysis of the companies subject to Section 1504 of the Dodd-Frank Act, download the data.
No competitive disadvantage from payment disclosure, says leading natural resource economist Transparency advocates are fighting to prevent Big Oil from weakening Section 1504 of Dodd-Frank, the landmark oil, gas, and mining payment transparency provision. Section 1504, if properly implemented, will enable citizens to monitor the revenue their governments receive from extractives companies, and help citizens ensure that revenue generated from…
On the 5th Anniversary of Section 1504 of the Dodd-Frank Act, Publish What You Pay U.S. and Global Witness call on the U.S. government to renew its leadership in tackling corruption in the oil, gas and mining sector by moving forward with strong implementation of Section 1504. Obstruction by big oil has delayed the Securities and Exchange Commission (SEC) rule…
This post originally appeared on www.publishwhatyoupay.org In 2010, President Obama signed into law the Dodd-Frank Act, section 1504 of which obliges all extractive companies listed in the US to publicly disclose the payments they make to governments around the world. Five years on, despite inspiring similar legislation by other jurisdictions around the world, this law has yet to come into…
On December 17th, 2014 the Government of Canada passed into law the Extractive Sector Transparency Measures Act as part of omnibus legislation Bill C-43. Under this Act, publicly traded and large private oil, gas, and mining companies must publicly disclose payments to governments, not just in Canada, but around the world. Read this fact sheet to find out more.
CSOs Put Limited Data to Good Use, Call for Project-Level Reporting What most profoundly distinguishes American Petroleum Institute (API) from civil society organizations in resource-rich countries working to make a more transparent and accountable extractives sector? (Hint: the answer we’re looking for is not “the ability to pay for an army of high-priced lawyers” – although that works too.) Put…
This post originally appeared on Oxfam’s Politics of Poverty blog. I thought I had heard every possible doomsday scenario guaranteed to result from greater transparency in the extractives sector in the nearly four years since President Obama signed the Dodd-Frank Act into law. It appears I was wrong. The WSJ’s reasoning was essentially this: by requiring oil, gas and mining…
In June and November 2013 the EU adopted amendments to the Transparency and Accounting Directives that oblige all listed and large non-listed extractive companies in the EU to publish the payments they make at project-level in the countries where they operate. This fact-sheet includes the technical details about these rules.