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Oxfam to SEC: Cough Up Extractive Payments Rule

Joe Mont | March 19, 2015

The Securities and Exchange Commission, no matter how overstuffed its regulatory agenda may be, cannot rearrange Congressional deadlines to its liking, specifically when it comes to a Dodd-Frank Act requirement that oil, gas, and mining companies disclose payments made to governments for the extraction of natural resources, Oxfam America says.

As waged in a volley of legal briefs, Oxfam and the SEC have been embroiled in a war of words over that delayed rule, an impasse that prompted the advocacy group to sue and demand a final version by November. Earlier this month, the SEC argued that the desired deadline is “unachievable” in a brief filed in U.S. District Court for the District of Massachusetts. With its latest, likely final, brief in the lawsuit Oxfam derided that concern.

When Congress enacted...

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