On June 1, 2015, Canada’s Extractive Sector Transparency Measures Act (“ESTMA” or “the Act”) came into force. Approved in December 2014, but not in force until this month, the Act requires companies in the extractive sector...more
The Extractive Sector Transparency Measures Act (ESTMA) came into force on June 1, 2015. ESTMA is designed to reduce international corruption by enacting reporting obligations with respect to payments made to foreign and...more
UK companies, including UK subsidiaries of EU companies, face tougher anti-corruption rules from next year.
Under chapter 10 of the EU Accounting Directive (2013/34/EU) (“the Accounting Directive”) and the EU...more
Under new EU legislation large and listed companies in the extractive industries will be required to disclose details of any significant payments they make to governments and authorities of the countries in which they...more
In This Issue:
- Mexican Congress to Consider Constitutional Oil and Gas Reforms: Bold Stride Forward or Half-Step?
- European Union adds legislative weight to the promotion of transparency in the extractive...more
On June 12, 2013, Canadian Prime Minister Stephen Harper announced the introduction of a new transparency initiative in Canada that will require Canadian companies in the extractive industries, including mining, oil and gas,...more
On April 9, 2013, the European Union agreed to a preliminary deal requiring oil, gas, mining and forestry companies to report in greater detail any payments at or above €100,000 (approximately $130,000) they make to foreign...more
On January 2, the Securities and Exchange Commission (“SEC”) filed its brief (.pdf) in the lawsuit brought by the U.S. Chamber of Commerce, the American Petroleum Institute (“API”), the National Foreign Trade Council, and the...more
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