This past June marked the one-year anniversary of the release of the Security and Exchange Commission's (SEC) implementing rule for Section 1504 of the Dodd-Frank Act. Driven by an advocacy campaign led by the Publish What You Pay - United States (PWYP-US) coalition, the rule required US-listed oil, gas, and mining companies to disclose payments to governments at the project-level in every country of operation.
Unfortunately the rule did not survive the year. In the first few weeks of the Trump administration the rule was rolled back through the use of the Congressional Review Act (CRA). However, the underlying statute remains in place and the SEC is mandated to promulgate a new rule by February 2018.
We have long advocated the importance of project-level reporting requirements in transparency regulation governing the extractives sector. Over the last several years Publish What You Pay member organizations around the world submitted letters to the Securities and Exchange Commission detailing the importance of project-level reporting to their work in holding extractive companies and governments accountable.
The following letters were submitted to the Securities and Exchange Commission’s rule-making record on Section 1504 of the Dodd-Frank Act:
Democratic Republic of Congo
Click here for the archives to see our full list of posts.