SEC Re-proposes Rule on Disclosure of Payments by Resource Extraction Issuers
On December 11, 2015, the Securities and Exchange Commission (“SEC”) issued a proposed rule to implement the Dodd-Frank Act requirement that issuers that engage in the commercial development of oil, natural gas, or minerals (“resource extraction issuers”) disclose annually payments made by them, their subsidiaries or entities under their control to the U.S. federal government or any foreign government to further the commercial development of oil, natural gas, or minerals.