SEC Adopts Disclosure Rules on Resource Extraction Payments

September 13, 2012

On August 22, the Securities and Exchange Commission adopted final rules on specialized disclosure relating to payments to governments by companies engaged in resource extraction. A company subject to the rules must file resource extraction payment disclosure annually on a new Specialized Disclosure Report, Form SD, no later than 150 days after the end of its fiscal year for fiscal years ending after September 30, 2013. A partial report covering only payments made after September 30, 2013 is permitted for a fiscal year beginning before September 30, 2013.