SEC to Issue Final Dodd-Frank Resource Extraction Disclosure Rule by June 2016 (Maybe)

Nov 5, 2015 | Cydney Posner
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As noted in this Law 360 article  and in this thecorporatecounsel.net blog , on Friday, the SEC filed a Notice of Proposed Rulemaking  in the U.S. District Court for the District of Massachusetts in connection with Oxfam America v. SEC, the case on the resource extraction disclosure rule. The Notice is in response to a decision by that Court in early September compelling the SEC to move expeditiously to issue a proposal and finalize a rule for the resource extraction disclosure required under Dodd-Frank (Section 1504). (See this PubCo post.)   In its Notice, the SEC proposed to hold a vote on the adoption of a final rule on or before June 27, 2016  (i.e.,within 270 days of submission of its Notice).  A rule proposal is expected to be issued before the end of 2015, to be followed by a 45-day public comment period.