The Securities and Exchange Commission (SEC) issued a landmark transparency rule yesterday requiring oil, gas and mining companies listed on U.S. stock exchanges to disclose the payments they make to the U.S. and foreign governments. In 2010, Congress mandated the rule in Section 1504 of the Dodd-Frank Act, in order to provide critical information to investors and help communities in resource-rich countries hold their governments accountable for the responsible management of billions of dollars in extractive resource revenues…Section 1504 inspired similar disclosure laws around the world, setting a new global standard for transparency…Some companies, like Shell, Total and Statoil, are already reporting on their project-level payments in all countries of operation under those regulations without consequence, while others have voluntarily disclosed their payment information. The SEC’s rule intentionally aligns with those rules to ensure consistent reporting obligations…