In response to an invitation for public comment by the Securities and Exchange Commission (SEC), prominent stakeholders expressed overwhelming support for a stronger implementing rule for Section 1504 of the Dodd-Frank Act, the oil anti-corruption rule.
BP, BHP, Eni, Gold Fields, Kosmos, Newmont, Rio Tinto, and Total all submitted statements illustrating their companies’ willingness to uphold their obligations under the EITI-supporting company expectations to publicly declare support for the EITI Standard and a mandatory disclosure rule in the US that aligns with the Standard.
PWYP-US applauds Total SAP’s recent comment letter to the Securities and Exchange Commission (SEC) which states that the compliance costs for disclosing its project-level payments to governments is “low.”