Court orders SEC to expedite extractive industry revenue transparency regulations
Location: Washington, D.C.
EarthRights International (ERI) applauds today’s court order giving the Securities and Exchange Commission (SEC) thirty days to file an “expedited schedule” for releasing landmark transparency rules in the extractive industries. The U.S. District Court in Boston issued the order in response to a lawsuit filed by ERI on behalf of Oxfam America, which has been a leader in pushing for revenue transparency.
“Resource-rich communities around the world just got one step closer to learning how much their governments are making from oil, gas, and mining companies,” said Jonathan Kaufman, ERI’s Legal Advocacy Coordinator and lead counsel for Oxfam America, who argued the case. “The SEC was ordered to enact these rules in the Dodd-Frank Act over four years ago, and the Court’s order makes clear that they may not dawdle in the face of a long overdue congressional deadline.”
Read more about it in Oxfam’s press release!