Oxfam Demands SEC Enact Dodd-Frank Resource Payment Rule

Law360, New York (August 16, 2012, 1:33 PM EDT) -- Oxfam America Inc. on Wednesday urged a Massachusetts federal judge to demand the U.S. Securities and Exchange Commission implement a long-delayed and controversial provision of the Dodd-Frank Act requiring companies to disclose payments to the governments of countries where they extract resources.

In a motion for summary judgment on Wednesday, Oxfam said the SEC is 16 months late in enforcing Dodd-Franks's Section 1504 but has still done nothing to issue guidelines to companies who work on resource-extraction in foreign countries.

Congress had mandated the SEC implement...
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