Financial Reform 101: For Energy Cos.

Law360, New York (August 5, 2010, 12:13 PM EDT) -- On July 21, 2010, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, which promises sweeping financial reform and increased regulatory oversight of the United States' banking and financial sectors.

While the Dodd-Frank Act contains numerous provisions that will inevitably spark much debate and comment, it is Section 1504, a miscellaneous two-page provision tacked on the end of a voluminous 2,300-page bill, that is of particular importance to energy- and mining-related companies.

Section 1504 requires that "resource extraction issuers"...
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