BHP response & statement on repeal of transparency regulations under US Dodd-Frank Act section 1504
“BHP Billiton is aware of on-going developments around the Congressional Review Act now being considered by US Congress and we are in discussion with relevant Washington stakeholders on this matter.
As clearly outlined in our Economic Contribution and Payment to Governments Reports of 2015 and 2016 , BHP Billiton supports the establishment of a globally consistent mandatory disclosure framework with equivalency provisions across jurisdictions. Consistency of financial disclosure makes good business sense: It provides regulatory certainty, reduces compliance costs and facilitates ease of comparison of disclosed financial information across jurisdictions, which is in turn critical for civil society and other users of financial disclosure data. BHP Billiton expressed these views to the Securities and Exchange Commission (SEC) during their 2016 rule making process.
As a UK-listed company, we will continue to disclose our payments of taxes and royalties under the European Union Directive and support the establishment of a globally consistent mandatory disclosure framework with equivalency provisions across jurisdictions.”