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At an open meeting yesterday, the SEC adopted, by the usual three to two, final Rule 13q-1 and an amendment to Form SD to implement Section 1504 of Dodd-Frank, which relates to disclosure of payments by resource extraction issuers. These rules, last proposed almost exactly a year ago (see this PubCo post), have had a long and troubled history. This effort at new resource extraction disclosure rules represents the SEC’s third attempt at these rules making their consideration a holiday tradition, according to SEC Commissioner Hester Peirce and today is almost on target as the
Morrison & Foerster LLP
Addressing the responsibility and accountability of companies in relation to their environmental and human rights impact has long been at the top of the agenda at the European level.
Walkers
Private Equity Comparative Guide for the jurisdiction of Cayman Islands, check out our comparative guides section to compare across multiple countries
Winston & Strawn LLP
On March 3, 2021, the Securities and Exchange Commission s ( SEC ) newly renamed Division of Examinations (the Division ) released its annual list of examination priorities for 2021.
Mayer Brown
US directors are put at increasing risk of liability in today s culture of compliance, particularly as regulators worldwide sharpen their focus on the corporate board s role in a company s affairs.
Increased FARA Enforcement is Here to Stay - A Debrief on ACI S Second National Forum on FARA Thursday, December 17, 2020
Increased Foreign Agents Registration Act (FARA) enforcement is here to stay. That is the consensus view of senior Department of Justice (DOJ) officials responsible for the statute’s administration and enforcement who appeared at the American Conference Institute’s (ACI) Second National Forum on FARA (the Forum), held virtually on 4 December 2020.
This alert summarizes the salient developments in FARA law and policy that DOJ officials and FARA practitioners discussed at the Forum, including:
New DOJ guidance on the statute’s legal representation exemption;
The National Fish and Wildlife Foundation (NFWF) is seeking applications for its
Coral Reef Conservation Fund 2021 to improve the health of coral reef systems. Grants will be awarded to reduce land-based sources of pollution, advance coral reef fisheries management, increase capacity for reef-scale restoration and to support management in their efforts to increase the natural recovery and resiliency of coral reef systems.
The Coral Reef Conservation Fund is a partnership with the U.S. National Oceanic and Atmospheric Administration’s (NOAA) Coral Reef Conservation Program (CRCP) and receives additional funding support from the USDA National Resource Conservation Service.
Priority Areas
Statement On Adoption Of Resource Extraction Disclosure Rules, SEC Chairman Jay Clayton, Dec. 16, 2020 Date
16/12/2020
Good morning. This is an open meeting of the U.S. Securities and Exchange Commission on December 16, 2020, under the Government in the Sunshine Act.
Today, we take another step in a winding, resource-consuming, decade-long journey to implement Section 1504 of the Dodd-Frank Act. In 2010, Section 1504 added Section 13(q) to the Securities Exchange Act of 1934, which directed the Commission to issue rules, commonly known as the “resource extraction rules,” requiring resource extraction issuers – in essence, certain companies publicly traded on U.S. exchanges – to disclose information about payments made to a foreign government or the Federal government for the purpose of the commercial development of oil, natural gas, or minerals.