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B-333087 Mar 19, 2021 1 (2021-03-19)

handle is hein.gao/gaolje0001 and id is 1 raw text is: 1O 0 U.S. GOVERNMENT ACCOUNTABILITY OFFICE A Century of Non-Partisan Fact-Based Work 441 G St. N.W. Washington, DC 20548 B-333087 March 19, 2021 The Honorable Sherrod Brown Chairman The Honorable Patrick J. Toomey Ranking Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Maxine Waters Chairwoman The Honorable Patrick McHenry Ranking Member Committee on Financial Services House of Representatives Subject: Securities and Exchange Commission: Disclosure of Payments by Resource Extraction Issuers Pursuant to section 801(a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Securities and Exchange Commission (Commission) entitled Disclosure of Payments by Resource Extraction Issuers (RIN: 3235-AM06). We received the rule on December 16, 2020. It was published in the Federal Register as a final rule on January 15, 2021.1 86 Fed. Reg. 4662. The effective date is March 16, 2021. According to the Commission, the final rule implements section 13(q) of the Securities Exchange Act of 1934, 15 U.S.C, § 78m(q). The Commission stated section 13(q) directs it to issue rules requiring resource extraction issuers to include in an annual report information relating to payments made to a foreign government or the federal government for the purpose of the commercial development of oil, natural gas, or minerals. The Commission also stated section 13(q) requires these issuers to provide information about the type and total amount of payments made for each of their projects related to the commercial development of oil, natural gas, or minerals, and the type and total amount of payments made to each government. In addition, the Commission further stated section 13(q) requires a resource extraction issuer to provide information about those payments in an interactive data format. 1The due date for this major rule report was January 30, 2021. Due to a processing error on our part, we are delayed in our issuance of this report.

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