Home > Regions > Asia Pacific > The Resource Extraction Rule Under The Dodd-Frank Act

The Resource Extraction Rule Under The Dodd-Frank Act

The Dodd-Frank Wall Street Reform and Consumer Protection Act (US) was passed in July 2010, following the US financial crisis.  Its aim was to promote reform within financial institutions and improve accountability and transparency in the financial system generally.

Under section 1504 of the Act, the US Securities and Exchange Commission (SEC) adopted a new resource extraction rule, which required resource extraction issuers to file a new form on the SEC’s public database for its financial years ending after 30 September 2013.  The new form required detailed information on payments made by companies to US or foreign governments.  More…