Civil society complaint lodged with Board of the Extractive Industries Transparency Initiative over revelations of activities to gut anti-corruption rules.
Trump’s Securities and Exchange Commission (SEC) Chairman, Jay Clayton today set the world back years in the global effort to tackle oil, gas, and mining sector corruption.
Despite Chair Clayton’s efforts to paint himself as a leader in the international fight against corruption, he may be set to mirror other Trump officials forcing through poorly drafted midnight rules while on their way out.
In response to an invitation for public comment by the Securities and Exchange Commission (SEC), prominent stakeholders expressed overwhelming support for a stronger implementing rule for Section 1504 of the Dodd-Frank Act, the oil anti-corruption rule.
BP, BHP, Eni, Gold Fields, Kosmos, Newmont, Rio Tinto, and Total all submitted statements illustrating their companies’ willingness to uphold their obligations under the EITI-supporting company expectations to publicly declare support for the EITI Standard and a mandatory disclosure rule in the US that aligns with the Standard.
PWYP-US applauds Total SAP’s recent comment letter to the Securities and Exchange Commission (SEC) which states that the compliance costs for disclosing its project-level payments to governments is “low.”
We are disappointed today that the SEC has released a weak proposed rule to implement the landmark Cardin-Lugar provision, which requires oil, gas and mining companies to publish their payments to governments.
Throughout his career, Senator Lugar was a tireless advocate for fighting global poverty and tackling corruption. The international PWYP family mourns the loss of Senator Lugar and sends our heartfelt condolences to his family, friends and staff.