As a result of our September victory in Oxfam America v. SEC, the Securities and Exchange Commission today filed an accelerated schedule for enacting long-awaited rules requiring transparency in the extractive industries. Before ERI filed suit on behalf of transparency advocate Oxfam America, the SEC refused to give any timeframe for finalizing the rules. Under the new schedule, the SEC will hold meetings to adopt a draft rule by the end of the year, and to vote on the final rule by the end of June. When the rules are finally in place, the U.S. will join Europe, Canada, and other parts of the world in ensuring that citizens and investors learn what mining, oil, and gas companies pay to the governments of the countries where they operate.
See Oxfam’s Press Release for more details.
This post was written by Jonathan Kaufman, former staff.