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SEC adopts payment disclosure rules for resource extraction companies


The rule adopts Rule 13q-1 and amends Form SD to implement Section 13(q) of the Securities Exchange Act 1934. It will come into effect 60 days after its publication in the Federal Register.
This new rule implements the resource payment disclosure requirement of the Dodd-Frank Wall Street Reform and Consumer Protection Act 2010 and follows the SEC s effort in 2018 to modernise its disclosure requirements for mining company issuers, which came into effect for many issuers on 1 January 2021.(2)
The SEC also created an alternative reporting regime which enables issuers subject to certain foreign reporting regimes to comply with the new rules by providing copies of those foreign reports (see ....

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