SEC Extends Comment Period on Proposed Resource Extraction Issuer Rules to March 2011

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The U.S. Securities and Exchange Commission (SEC) has recently extended the deadline for comments regarding Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act until March 2, 2011. Under Section 1504, resource extraction issuers must disclose certain payments made for projects relating to the commercial development of oil, natural gas or minerals, including payments to various governments in connection with such projects. Any energy or mining company interested in participating in the final rule-making process regarding Section 1504 should submit their comments to the SEC by the March 2 deadline.

On January 28, 2011, the U.S. Securities and Exchange Commission (SEC) extended the deadline for comments regarding Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Under Section 1504 resource extraction issuers must disclose certain payments made for projects relating to the commercial development of oil, natural gas or minerals, including payments to various governments in connection with such projects. The proposed rules, if adopted, will provide additional guidance to issuers concerning their new disclosure obligations. The SEC has extended the deadline for comments to March 2, 2011.

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