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SEC RIN: 3235-AM06 Publication ID: Fall 2020 
Title: Disclosure of Payments by Resource Extraction Issuers 

The Commission’s rule issued in response to Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act was disapproved by a Joint Resolution under the Congressional Review Act ("CRA”) on February 14, 2017.  The Division is considering recommending that the Commission adopt a rule to implement Section 1504 in compliance with the substantive requirements of the CRA. Section 1504 of the Dodd-Frank Act added Section 13(q) to the Securities Exchange Act of 1934. Section 13(q) directs the Commission to issue rules requiring resource extraction issuers to include in an annual report information relating to payments made to a foreign government or the Federal Government for the purpose of the commercial development of oil, natural gas, or minerals. Section 13(q) requires these issuers to provide information about the type and total amount of payments made for each of their projects related to the commercial development of oil, natural gas, or minerals, and the type and total amount of payments made to each government. In addition, Section 13(q) requires a resource extraction issuer to provide information about those payments in an interactive data format.


Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Yes  Unfunded Mandates: No 
EO 13771 Designation: Independent agency 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: Pub. L. 111-2013    17 U.S.C. 78c(b)    17 U.S.C. 78cl    17 U.S.C. 78m    17 U.S.C. 78o    17 U.S.C. 78w(a)    17 U.S.C. 78mm   
Legal Deadline:
Action Source Description Date
Final  Statutory  Issue rules not later than February 14, 2018, as required by 5 U.S.C. 803.  02/14/2018 
Action Date FR Cite
NPRM  12/23/2010  75 FR 80978   
NPRM Comment Period Extended  02/03/2011  76 FR 6111   
NPRM Comment Period End  03/02/2011 
Final Action  09/12/2012  77 FR 56365   
NPRM  12/23/2015  80 FR 80058   
NPRM Initial Comment Period End  01/25/2016 
NPRM Reply Comment Period End  02/16/2016 
Final Action  07/27/2016  81 FR 49360   
Disapproved by Joint Resolution H.J.Res. 41  02/14/2017 
NPRM  01/15/2020  85 FR 2522   
NPRM Comment Period End  03/16/2020 
Final Action  12/00/2020 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Federalism: Undetermined 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Elliot Staffin
Division of Corporation Finance
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-3450