Amendment in Financial Reform legislation sets new global standard for corporate transparency
When will UK follow suit?
Communities living in resource-rich countries won a historic victory today when the U.S. Congress passed landmark transparency legislation as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Once signed into law in the coming days by President Obama, the provision will require oil, gas, and mining companies registered with the US Securities and Exchange Commission (SEC) publically disclose their payments to governments for the extraction of natural resources on an annual basis.