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Company Response

Total response & statement on repeal of transparency regulations under US Dodd-Frank Act section 1504

Total believes equivalency recognition should help global transparency initiatives evolve toward a common standard, thereby improving the quality and comparability of information. It encourages foreign jurisdictions that have not yet adopted resource extraction payment disclosure laws to provide a level of disclosure that is consistent with U.S. and EU rules. Therefore, Total considers it important that the SEC substantially adopt its currently proposed rules in final form and, quickly thereafter, unilaterally make a determination of the equivalency of EU rules as transposed by the Member States of the European Union into their national laws.

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