U.S.-listed energy and mining companies must report what they pay each country in which they tap resources in a rule adopted by the Securities and Exchange Commission.
SEC commissioners voted 2-1 today to compel public disclosure of taxes, royalties and fees paid to any government - - including the U.S. -- by so-called extractive industries companies for access to resources. SEC Chairman Mary Schapiro, who formerly served on the boards of Duke Energy Corp. (DUK:US) and Cinergy Corp., and Republican Commissioner Troy Paredes recused themselves from voting on the final rule.
The initial disclosures must be filed for fiscal years ending after Sept. 30, 2013.
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