Posts by LynnT:
- Oil contracts in Uganda, 25 Oct 2012
Recent blog posts
One short clause, inserted late in intense negotiations into a US bill to clean up Wall Street just before the summer break, may be about to transform disclosure and reporting rules for extractive companies around the world. Section 1504 of the Dodd–Frank Wall Street Reform and Consumer Protection Act, signed into law by President Obama on July 21, amends the 1934 Securities Exchange Act to require any company with a financial listing from the Securities and Exchange Commission (SEC) to provide a report annually on almost every payment it makes to any government around the world to develop oil, gas, or other natural resource industries. The bill, more commonly known as the Wall Street Reform Act (WSRA) specifies payments by type, such as taxes, royalties and signature bonuses, and also that such payments should be listed project by project.