Full Text: Section 1504 of the Dodd-Frank Financial Reform and Consumer Protection Act
The attached file includes the full text of Section 1504 of the Dodd-Frank Financial Reform and Consumer Protection Act.
Section 1504 Legislative History Timeline
Section 1504 of the Dodd-Frank Financial Reform and Consumer Protection Act, also referred to as the Cardin-Lugar Amendment, emerged following several years of work within the U.S. Congress, wherein industry, investors, and civil society were provided with ample opportunities to influence the final language of the requirements. Review this timeline of Section 1504’s legislative history.
FACT SHEET – SEC Rules for Oil and Mineral Payment Disclosure
On August 22, 2012, the U.S. Securities and Exchange Commission (SEC) voted to approve regulations to implement Section 1504, or the Cardin-Lugar Amendment, of the Dodd-Frank Financial Reform and Consumer Protection Act. Section 1504 requires any oil, gas or mining company reporting to the SEC to disclose their country and project-level payments to host governments each year. The following provides…
The USA’s oil transparency rules: Worth the wait?
Thanks to public pressure and a lawsuit by Oxfam America, the SEC has done it, and last month saw the draft rule published. PWYP-US is currently analysing the details, but overall, it’s good news – it is comparable to the EU Directives (so most companies which are listed in both the US and EU will be able to submit the same report in both places) and the early general verdict is that this is a strong proposed rule, which requires public disclosure of payments by company and by project.
SEC Reasserts US Leadership on Oil, Gas and Mining Transparency Law – December 11, 2015
Today, the Securities and Exchange Commission (SEC) voted in favor of a proposed rule for Section 1504 of the Dodd-Frank Act. Publish What You Pay – United States welcomes the decision by the SEC to propose a rule in line with the international standard on extractives payment transparency.
PWYP-US Submission to the SEC on Section 1504 (Company coverage under 1504)
PWYP-US submitted this letter to the Securities and Exchange Commission’s rulemaking record for its implementing rule for Section 1504 of the Dodd-Frank Act. View it on the SEC website. For a comprehensive analysis of the companies subject to Section 1504 of the Dodd-Frank Act, download the data.
PWYP-US Applauds SEC Commitment to Swiftly Release Oil Transparency Rule – Oct 2, 2015
Publish What You Pay – United States (PWYP-US) welcomes today’s commitment by the Securities and Exchange Commission to quickly finalize a rule for Section 1504 of the Dodd-Frank Act, a groundbreaking oil, gas and mining transparency law. Read the full press release here.
The foundation is shaking beneath Big Oil’s House of Cards
No competitive disadvantage from payment disclosure, says leading natural resource economist Transparency advocates are fighting to prevent Big Oil from weakening Section 1504 of Dodd-Frank, the landmark oil, gas, and mining payment transparency provision. Section 1504, if properly implemented, will enable citizens to monitor the revenue their governments receive from extractives companies, and help citizens ensure that revenue generated from…
PWYP-U.S. and Global Witness Call for the U.S. to Renew its Leadership on Landmark Extractive Industry Transparency Law on the 5th Anniversary of the Dodd – Frank Act – July 15, 2015
On the 5th Anniversary of Section 1504 of the Dodd-Frank Act, Publish What You Pay U.S. and Global Witness call on the U.S. government to renew its leadership in tackling corruption in the oil, gas and mining sector by moving forward with strong implementation of Section 1504. Obstruction by big oil has delayed the Securities and Exchange Commission (SEC) rule…
Oxfam America present oral arguments in case against SEC
This post originally appeared on www.publishwhatyoupay.org In 2010, President Obama signed into law the Dodd-Frank Act, section 1504 of which obliges all extractive companies listed in the US to publicly disclose the payments they make to governments around the world. Five years on, despite inspiring similar legislation by other jurisdictions around the world, this law has yet to come into…