News & Analysis as of

Oil & Gas Securities and Exchange Commission (SEC) Securities Exchange Act

Troutman Pepper

Upcoming Deadline for Resource Extraction Issuers to File First Form SD Disclosures

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On March 16, 2021, Rule 13q-1 under the Securities Exchange Act of 1934, as amended (Exchange Act), took effect. This rule requires resource extraction issuers to disclose on Form SD information relating to payments made to a...more

A&O Shearman

Fifth Circuit Securities Litigation Quarterly - Q1 2024

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Welcome to the first 2024 edition of Shearman & Sterling’s Fifth Circuit Securities Litigation Quarterly. As public companies and financial institutions continue to migrate to Texas, our Texas-based securities litigation...more

Vinson & Elkins LLP

Credit Risk Retention in Oil & Gas ‘Securitizations’ of Proven, Developed and Producing (PDP) Wells

Vinson & Elkins LLP on

The purpose of this White Paper is to provide general guidance to transaction participants and practitioners in their consideration of the application of 17 C.F.R. Part 246, adopted jointly by the Securities and Exchange...more

Jones Day

SEC Adopts Final Rules Governing Payment Disclosure by Resource Extraction Issuers

Jones Day on

The rules will require resource extraction issuers to file a Form SD on an annual basis that includes information about payments related to the commercial development of oil, natural gas, or minerals that are made to the U.S....more

Allen Matkins

The SEC Insists On "Terminological Inexactitude" For Resource Extraction Issuer Rule

Allen Matkins on

As previously mentioned in this blog, the Securities and Exchange Commission is trying for the third time to implement Congress' directive to adopt rules requiring disclosure by "resource extraction issuers". See The SEC's...more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Re-Proposes Rules To Implement Resource Extraction Payment Disclosure Requirements

On December 18, 2019, the U.S. Securities and Exchange Commission (SEC) voted in favor of proposing rules to implement the resource extraction issuer disclosure provisions in Section 1504 of the Dodd-Frank Act, which added...more

Bracewell LLP

House Votes to Invalidate Extraction Payment Disclosure Rule

Bracewell LLP on

On February 1, 2017, the U.S. House of Representatives passed House Joint Resolution 41 to annul the Extraction Payment Disclosure Rule. The rule would require oil and gas companies to disclose in annual reports for fiscal...more

Gray Reed

2016 – A Bad Year For Bad Guys in Energy

Gray Reed on

Let’s look back at a cavalcade of crooks, criminals and miscreants who met up with justice in 2016. We do it to be reminded of the others who will be lurking in the 2017 shadows....more

Holland & Knight LLP

SEC Rules for Resource Extraction Issuers Could Lead to Increased FCPA Scrutiny, Disclosures

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New rules issued by the U.S. Securities and Exchange Commission (SEC) that require resource extraction issuers to disclose payments made to U.S. and foreign governments for the commercial development of oil, natural gas or...more

BakerHostetler

SEC Adopts Payment Disclosure Rules for Companies Engaged in Resource Extraction

BakerHostetler on

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

K&L Gates LLP

SEC Adopts Payment Disclosure Rules for Resource Extraction Issuers

K&L Gates LLP on

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

Gray Reed

When is a Joint Venture a Security?

Gray Reed on

Parvizian controlled Arcturus and Aschere, buying and selling interests in drilling projects. Each project had a managing venturor which supervised the project. Each venture included a confidential information memorandum,...more

Dorsey & Whitney LLP

SEC Charges Texas Promoter With Defrauding Chinese Investors

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The Commission has brought a series of cases where investors lost substantial sums purchasing shares of firms whose operations and or assets were supposedly largely in China. In some instances the firms turned out not to have...more

Orrick, Herrington & Sutcliffe LLP

Orrick's Financial Industry Week in Review

SEC Reopens Comment Period for Proposed Amendments to Rule 13n-4 under the Securities Exchange Act of 1934 - On January 15, the Securities and Exchange Commission reopened the comment period for proposed amendments to...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts: An Update From Skadden Securities Litigators - September 2015 / Volume 7 / Issue 3

This issue of Inside the Courts, Skadden’s securities litigation newsletter, includes summaries and associated court opinions of selected cases principally decided between May 2015 and August 2015. The cases address...more

Katten Muchin Rosenman LLP

SEC Brings Complaint in $68 Million Affinity Fraud Scheme

On July 6, the Securities and Exchange Commission filed a complaint in connection with a $68 million affinity fraud scheme allegedly orchestrated by Bingqing Yang, through her wholly owned management companies, Luca...more

Dorsey & Whitney LLP

SEC Files Offering Fraud Charges Based in Part on EB-5 Program

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The EB-5 program, which promises a path to a permanent green card for those who can invest in this country and create jobs, has been involved in a number of SEC enforcement actions, most recently involving unregistered broker...more

Stinson - Corporate & Securities Law Blog

Unregistered Finder Settles With The SEC, Agrees To Pay Millions

The SEC recently settled an enforcement action against an individual alleged to have sold millions of dollars in securities on behalf of oil and gas companies without being associated with a registered broker dealer, as...more

Foley Hoag LLP

Federal Court Strikes Down SEC Resource Extraction Rule

Foley Hoag LLP on

On July 2, 2013, the United States District Court in Washington, D.C. invalidated Rule 13q-1 under the Securities Exchange Act of 1934 implementing the Dodd-Frank Act “resource extraction” provision requiring disclosure of...more

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