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ARTICLE · 22 DECEMBER 2015

Second Time's The Charm - SEC Re-Proposes Rules For Resource Extraction Issuer Disclosure

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The SEC recently re-proposed rules to create a new disclosure regime for payments made to a government by domestic and foreign issuers that engage in the commercial development of oil, natural gas and mining.

CanadaEnergy and Natural Resources
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The Securities and Exchange Commission (SEC) recently re-proposed rules to create a new disclosure regime for payments made to a government by domestic and foreign issuers that engage in the commercial development of oil, natural gas and mining. The SEC is accepting comments on the proposed rules until January 25, 2016.

Under the proposed rules, issuers required to file annual reports with the SEC would be required to disclose payments made to the U.S. federal government or a foreign government to further the commercial development of oil, natural gas or minerals. The issuer would also be required to disclose payments made by a subsidiary or entity controlled by the issuer.

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