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26 Jan 2017

Publish What You Pay

Civil society orgs. urge UK Prime Minister to advocate for keeping Dodd-Frank extractives transparency regulation

"Threat to United States extractive industry mandatory reporting law", 25 January 2017

…In light of…your Government’s strong anti-corruption commitments, we must alert you to a threat under the Congressional Review Act (CRA) to mandatory reporting in the United States. Certain US legislators are seeking to use the CRA to void the Cardin-Lugar anti-corruption rule (Dodd-Frank Act 2010, Section 1504), which requires oil, gas and mining companies publicly listed in the USA to publish their payments to governments. The first year of mandatory extractive company reporting in the United Kingdom…has been a real success. Similar laws exist throughout the European Union and in Canada and Norway, as well as in the USA. It would be a serious setback for global efforts to achieve greater transparency and accountability in the extractive industries…if mandatory reporting legislation in the US were to be rolled back. We urge you…to do everything possible to persuade your US counterparts and American legislators to ensure that the Cardin-Lugar anti-corruption rule…remains intact…

Part of the following timelines

USA: Civil society orgs. oppose deregulation efforts, in particular dismantling of Dodd-Frank Wall Street Reform & Consumer Protection Act

US Congress undoes Dodd-Frank regulations on extractive industry revenue transparency

Publish What You Pay urges oil, gas & mining firms to support US law on disclosure of payments to govts. - statements of support by 13 firms