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SEC Adopts Payment Disclosure Rules for Companies Engaged in Resource Extraction

The U.S. Securities and Exchange Commission (the “SEC”) has adopted new rules which require “resource extraction issuers” to disclose annually the type and amount of payments that they (or their subsidiaries or entities under...more

SEC Adopts Payment Disclosure Rules for Resource Extraction Issuers

On June 27, 2016, the U.S. Securities and Exchange Commission (“SEC”) adopted Rule 13q-1 under the Securities Exchange Act of 1934 (the “Exchange Act”) and amendments to Form SD (Specialized Disclosure Report) (See SEC...more

SEC Adopts New Rules Requiring Disclosure of Resource Extraction Payments

On June 27, 2016, the Securities and Exchange Commission (SEC) adopted new rules requiring certain producers of oil, natural gas and minerals to publicly disclose information regarding payments to the U.S. federal government,...more

Proposed SEC Rules Modernize Mining Disclosures Using Canadian Rules as the Gold Standard

On June 16, 2016, the U.S. Securities and Exchange Commission proposed a set of comprehensive mining disclosure rules with the stated intent of “aligning such rules with current industry and global regulatory practices and...more

Understanding the SEC’s Proposed New Mining Disclosure Rules: Questions and Answers

On June 16, 2016, the SEC proposed a major overhaul of the disclosure requirements for companies that are engaged in material mining operations, including royalty companies. The proposed rules would replace the SEC’s...more

SEC Adopts Resource Extraction Issuer Disclosure Rule – Changes From the Proposed Rule and Take-aways for Issuers

On June 27, the SEC adopted Rule 13q-1 under the Exchange Act and related amendments to Form SD. Under the Rule, public companies are required to annually report on payments made to foreign governments and the U.S. federal...more

Shining a Light on Payments to Governments: SEC Adopts ‘Publish What You Pay’ Rule for Resource Extraction Issuers

On June 27, 2016, the US Securities and Exchange Commission adopted a final rule implementing Section 1504 of the Dodd-Frank Act. The new rule will require resource extraction issuers to disclose payments they make to...more

SEC Adopts Rule on Disclosure of Payments by Resource Extraction Issuers

On June 27, 2016, the Securities and Exchange Commission announced that it adopted rules, mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, to require resource extraction issuers to disclose payments...more

Blog: SEC Adopts (Again) Final Rules Requiring Disclosure Of Payments To Governments By Resource Extraction Issuers—Is Another...

On June 27, 2016, the SEC announced that it had adopted final rules, mandated by Section 1504 of Dodd-Frank, that require disclosure on Form SD of certain payments made to the federal and foreign governments by resource...more

SEC Declines To Define “Mineral” In Resource Extraction Rule But Then Defines It Anyway

As reported by Broc Romanek yesterday, the Securities and Exchange Commission adopted (again) a resource extraction rule. Congress had ordered the SEC to adopt a rule by April 17, 2011. After belatedly adopting a rule, the...more

Key Milestone towards the Standardisation of Mineral Reserve and Resource Reporting

The US Securities and Exchange Commission (the "SEC") has proposed to modernise its rules for mineral property disclosure and more closely align them with international regulatory standards and practices. The SEC has...more

SEC Adopts Resource Extraction Rules

Responding to a court order, the SEC adopted rules to require resource extraction issuers to disclose payments made to governments for the commercial development of oil, natural gas or minerals. The rules, mandated by the...more

SEC Proposes Rules to Update Disclosure Requirements for Mining Registrants

On June 16, 2016, the Securities and Exchange Commission (the SEC) issued a press release proposing rules to modernize disclosures for mining properties (the “Proposed Rules”), currently set forth in Item 102 of Regulation...more

SEC Proposes Updated Mining Disclosure Rules ? Industry Guide 7 to be Eliminated

On June 16, 2016, the SEC proposed new rules to update disclosure requirements for mining properties. The intent of the proposed rules is align them more closely with current industry and global standards, specifically...more

Clock Winds Down On Resource Extraction Disclosure Rule

Congress told the SEC to adopt a resource extraction disclosure rule by no later than April 17, 2011. The SEC missed that statutory deadline by over a year. After the SEC belatedly adopted a rule in 2012, the U.S. District...more

Apple’s Conflict Minerals Smelters Nearly 100% Audited

Apple has filed its Form SD for the year ended December 31, 2015. It includes this disclosure: The combination of training, public reporting and a ticking clock drove the number from 82 smelters and refiners...more

The SEC’s (Re-)Proposed Resource Extraction Issuer Disclosure Rule – An Update, Deep Dive and Selected Takeaways and Action Items...

During December, the Securities and Exchange Commission (SEC) issued its long-awaited proposed rule (the Rule) on the disclosure of resource extraction payments by public companies. Under the Rule, a resource extraction...more

In Case You Missed It - Interesting Items for Corporate Counsel - January 2016

The SEC (re)proposed Resource Extraction Disclosure Rules last month, here. Recall, these rules are required by the Dodd-Frank Act and were adopted in 2012, vacated in 2013 by the U.S. District Court in D.C., and the subject...more

SEC proposes revised payment disclosure rules for companies engaged in resource extraction

The US Securities and Exchange Commission (the “SEC”) has re-proposed Rule 13q-1 and an amendment to Form SD to implement Section 13(q) of the US Securities Exchange Act of 1934 (the “Exchange Act”), which was added by...more

“Not De Minimis” Is No Small Thing!

Having failed to meet a Congressional deadline for years, a federal court last fall ordered the Securities and Exchange Commission to adopt a resource extraction payments disclosure rule as required by Section 13(q) of the...more

SEC Reproposes Rules for Resource Extraction Issuers

The Proposed Rules call for enhanced disclosures by companies in the oil, natural gas, and mining industries. On December 11, the Securities and Exchange Commission (SEC or the Commission) reproposed rules (the Proposed...more

SEC Re-Proposes Rules for Resource Extraction Issuers Under Dodd-Frank Act

On December 11, 2015, the Securities and Exchange Commission (the “SEC”) proposed rules required under Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Act”). Section 1504 of the Act added...more

"SEC Proposes Rules to Implement Resource Extraction Issuer Disclosure Provisions"

On December 11, 2015, the U.S. Securities and Exchange Commission (SEC) released another set of proposed rules to implement the resource extraction issuer disclosure provisions in Section 1504 of the Dodd-Frank Act. The...more

Déjà Vu ? SEC Proposes “New” Rules for Disclosure of Government Payments by Resource Extraction Issuers

On December 11, the SEC re-proposed rules requiring disclosure of government payments by resource extraction issuers. The proposed rules will require resource extraction issuers to disclose payments made to the U.S. federal...more

Blog: SEC Proposes New Resource Extraction Disclosure Rules — Will They Face Another Legal Challenge?

Last Thursday, the SEC voted (with Commissioner Piwowar in dissent) to propose rules, mandated by Section 1504 of the Dodd-Frank, that would require disclosure on Form SD of certain payments made to the federal and foreign...more

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