UK Sets Rule To Make Energy Cos. Disclose Gov't Payments

Law360, New York (August 22, 2014, 2:57 PM EDT) -- The U.K. government on Thursday introduced a rule to require oil, gas and mining companies registered in the country to report on their payments to governments in all countries in which they operate, starting in 2015.

The new rule makes the U.K. the first country in the European Union to mandate reporting requirements for extractives companies, U.K. Business Minister Jo Swinson said in a statement.

“These changes will result in greater transparency, helping build a stronger economy and ensuring people around the world have the information they need to hold their governments to account,” Swinson said.

The rule takes effect on...

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