Federal Register: SEC Proposes Resource Extraction Disclosure Rules

An SEC proposal to require resource extraction issuers to "disclose payments made to foreign governments or the U.S. federal government for the commercial development of oil, natural gas, or minerals" was published in the Federal Register. Comments must be submitted by March 16, 2020.

As previously covered, the proposal would require domestic or foreign resource extraction issuers to:

• annually file a Form SD;
• disclose payments made by a domestic or foreign issuer, or a subsidiary or entity controlled by the issuer; and
• publicly disclose company-specific, project-level payment information.

The SEC Commissioners issued separate statements on the proposal (see here, here, here, here and here).