In a new proposed rule designed to implement Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank)—which requires issuers involved in the commercial development of oil, natural gas and minerals to track and report certain payments they have made to the United States and foreign governments— the Securities and Exchange Commission (SEC) will require filings of special disclosures.
These disclosures will involve payments that include taxes, royalties, fees, production entitlements, bonuses and other material benefits. To read more about the potential impact of this rule, click here.
