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Stag Hunt: Anti-Corruption Disclosures Concerning Natural Resources
[journal article]
Abstract The United States Securities and Exchange Commission (SEC) issued the rules for Disclosure of Payments by Resource Extraction Issuers for the third time in March 2021. This was prescribed by Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010). These anti-corruption r... view more
The United States Securities and Exchange Commission (SEC) issued the rules for Disclosure of Payments by Resource Extraction Issuers for the third time in March 2021. This was prescribed by Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (2010). These anti-corruption rules require resource extraction issuers listed on the U.S. stock exchanges to publicly report the type and total amounts of payments made for the "commercial development of oil, natural gas or minerals" to governments all over the world. This article argues that the long process of the creation of these rules, while frustrating for SEC officials and staff, can be conceptualized as a "stag hunt" involving other countries that host extraction companies on their stock exchanges.... view less
Keywords
mining; raw materials; basic industry; corruption; transparency; stock exchange; supervisory authority; United States of America
Classification
Law
Free Keywords
extractive industries; SEC
Document language
English
Publication Year
2021
Page/Pages
p. 1-20
Journal
Chicago Journal of International Law - CJIL Online, 1 (2021) 1
ISSN
1529-0816
Status
Published Version; peer reviewed