Repeal of the Disclosure of Payments by Resource Extraction Issuers Rule
January 01, 1970
The Repeal of the Disclosure of Payments by Resource Extraction Issuers Rule (Pub. L.Tooltip Public Law (United States) 115–4 (text) (PDF), H.J.Res. 41) is an Act of Congress that nullifies the Securities and Exchange Commission regulation known as the "Disclosure of Payments by Resource Extraction Issuers" rule. This was the first use of the Congressional Review Act during the Trump administration to overrule a federal regulation.
Repeal of the Disclosure of Payments by Resource Extraction Issuers Rule
Long title
Providing for congressional disapproval under chapter 8 of title 5, United States Code, of a rule submitted by the Securities and Exchange Commission relating to "Disclosure of Payments by Resource Extraction Issuers".
Signed into law by President Donald Trump on 02/14/2017
Regulatory effectedit
The "Disclosure of Payments by Resource Extraction Issuers" regulation mandated that resource extraction issuers disclose payments made to governments for the purposes of developing commercial oil, natural gas, or minerals. The regulation had been mandated by the Dodd–Frank Wall Street Reform and Consumer Protection Act.[1] Advocates of the regulation lobbied that it prevented companies from bribing foreign governments and engaging in other forms of corruption, while detractors argued that the rule placed an excessive burden on American companies and created a competitive disadvantage.[2]
^"SEC Adopts Rules for Resource Extraction Issuers Under Dodd-Frank Act". U.S. Securities and Exchange Commission. June 27, 2016.
^"Senate rejects transparency rule for oil companies". CNN. February 3, 2017.
January 01, 1970
repeal, disclosure, payments, resource, extraction, issuers, rule, tooltip, public, united, states, text, congress, that, nullifies, securities, exchange, commission, regulation, known, disclosure, payments, resource, extraction, issuers, rule, this, first, co. The Repeal of the Disclosure of Payments by Resource Extraction Issuers Rule Pub L Tooltip Public Law United States 115 4 text PDF H J Res 41 is an Act of Congress that nullifies the Securities and Exchange Commission regulation known as the Disclosure of Payments by Resource Extraction Issuers rule This was the first use of the Congressional Review Act during the Trump administration to overrule a federal regulation Repeal of the Disclosure of Payments by Resource Extraction Issuers RuleLong titleProviding for congressional disapproval under chapter 8 of title 5 United States Code of a rule submitted by the Securities and Exchange Commission relating to Disclosure of Payments by Resource Extraction Issuers Enacted bythe 115th United States CongressEffective02 14 2017CitationsPublic lawPub L Tooltip Public Law United States 115 4 text PDF CodificationU S C sections amended5 U S C ch 8Legislative historyIntroduced in the House as H J Res 41 by Rep Bill Huizenga R MI on 01 30 2017Passed the House on 02 01 2017 235 187 Passed the Senate on 02 03 2017 52 47 Signed into law by President Donald Trump on 02 14 2017Regulatory effect editThe Disclosure of Payments by Resource Extraction Issuers regulation mandated that resource extraction issuers disclose payments made to governments for the purposes of developing commercial oil natural gas or minerals The regulation had been mandated by the Dodd Frank Wall Street Reform and Consumer Protection Act 1 Advocates of the regulation lobbied that it prevented companies from bribing foreign governments and engaging in other forms of corruption while detractors argued that the rule placed an excessive burden on American companies and created a competitive disadvantage 2 Legislative history editThe Joint Resolution was introduced in the United States House of Representatives by Rep Bill Huizenga on January 30 2017 and signed into law by President Donald Trump on February 14 2017 References edit SEC Adopts Rules for Resource Extraction Issuers Under Dodd Frank Act U S Securities and Exchange Commission June 27 2016 Senate rejects transparency rule for oil companies CNN February 3 2017 Retrieved from https en wikipedia org w index php title Repeal of the Disclosure of Payments by Resource Extraction Issuers Rule amp oldid 850464944, wikipedia, wiki, book, books, library,
