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20 Dec 2019

USA: SEC's latest draft of payment disclosure rules for oil and mining companies draws criticism from anticorruption groups

On 18 December 2019, the US Securities and Exchange Commission (SEC) released the latest draft of the Dodd-Frank Section 1504 rule, which requires companies operating in the extractive industries and listed on US stock exchanges to disclose payments to governments. The draft rules - the SEC's third attempt at implementing Section 1504 - have received criticism from civil society for failing to adequately deter companies from engaging in corrupt practices. The proposal will undergo a 60-day comment period before the SEC votes on a final version. This story includes statements from Oxfam and Global Witness.