The Securities and Exchange Commission is offering its first look at the new reporting protocol required of oil, gas and mining companies as they report payments to governments and began a public review process.
Rather than relying on the traditional 10-K, to facilitate new reporting required under a rule approved earlier this month, as mandated by the Dodd-Frank Act, the SEC created the new Form SD. It will also be used by companies now required to disclose the use of “conflict minerals” that originated in the Democratic Republic of the Congo or an adjoining country.
