The U.S. Securities and Exchange Commission has issued the final version of a rule requiring many companies in the resource extraction business to disclose most payments they make to the U.S. federal government or foreign governments related to commercial development of gas, oil and minerals.
The new standard announced on Monday was mandated by Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, but has taken several years to get through the rule-making process amid objections from business groups that said it will hurt the U.S. energy industry and economy.
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