Disclosure of Payments by Resource Extraction Issuers, 6111-6112 [2011-2359]

Download as PDF Federal Register / Vol. 76, No. 23 / Thursday, February 3, 2011 / Proposed Rules time to analyze the issues and prepare their comments. DATES: Comments should be received on or before March 2, 2011. ADDRESSES: Comments may be submitted by any of the following methods: jdjones on DSK8KYBLC1PROD with PROPOSALS-1 Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/proposed.shtml); • Send an e-mail to rulecomments@sec.gov. Please include File Number S7–40–10 on the subject line; or • Use the Federal Rulemaking Portal (https://www.regulations.gov). Follow the instructions for submitting comments. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number S7–40–10. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/rules/ proposed.shtml). Comments are also available for Web site viewing and printing in the Commission’s Public Reference Room 100 F Street, NE., Washington, DC 20549–1090, on official business days between the hours of 10 a.m. and 3 p.m. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: John Fieldsend, Special Counsel in the Office of Rulemaking, Division of Corporation Finance, at (202) 551–3430, at the U.S. Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–3628. SUPPLEMENTARY INFORMATION: The Commission has requested comment on a release proposing amendments to its rules to implement Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The proposed rules would affect the annual reporting requirements of issuers that file reports pursuant to Sections 13(a) or 15(d) of the Securities Exchange Act of 1934 (the ‘‘Exchange Act’’) and would require any such issuer for which conflict minerals are necessary to the functionality or production of a product manufactured, VerDate Mar<15>2010 14:22 Feb 02, 2011 Jkt 223001 or contracted to be manufactured, by that issuer to disclose in the body of its annual report whether its conflict minerals originated in the Democratic Republic of the Congo or an adjoining country. If so, that issuer would be required to furnish a separate report as an exhibit to its annual report that includes, among other matters, a description of the measures taken by the issuer to exercise due diligence on the source and chain of custody of its conflict minerals. These due diligence measures would include, but would not be limited to, an independent private sector audit of the issuer’s report conducted in accordance with standards established by the Comptroller General of the United States. Further, any issuer furnishing such a report would be required, in that report, to certify that it obtained an independent private sector audit of its report, provide the audit report, and make its reports available to the public on its Internet Web site. The release was published in the Federal Register on December 23, 2010. The Commission originally requested that comments on the release be received by January 31, 2011. The nature of the proposed disclosure requirements differs from the disclosure traditionally required by the Exchange Act, and the proposal requested comment on a variety of significant aspects of the proposed rules. The Commission has received requests for an extension of time for public comment on the proposal to, among other things, allow for the collection of information and improve the quality of responses.1 The Commission believes that providing the public additional time to consider thoroughly the matters addressed by the release and to submit comprehensive responses to the release would benefit the Commission in its consideration of final rules. Therefore, the Commission is extending the comment period for Release No. 34–63547 ‘‘Conflict Minerals’’ for 30 days, to Wednesday, March 2, 2011. By the Commission. Dated: January 28, 2011. Elizabeth M. Murphy, Secretary. [FR Doc. 2011–2374 Filed 2–2–11; 8:45 am] BILLING CODE 8011–01–P 1 See, e.g., Advanced Medical Technology Association et al. (Dec. 16, 2010); Representative Spencer Bachus, Chairman, Committee on Financial Services, U.S. House of Representatives (Jan. 25, 2011); Department of State (Jan. 25, 2011); Jewelers Vigilance Committee et al. (Jan. 10, 2011); National Mining Association (Jan. 3, 2011); National Stone, Sand Gravel Association (Jan. 13, 2011); and World Gold Council (Jan. 7, 2011). Comments are available on the Commission’s Internet Web site at https:// www.sec.gov/comments/s7-40-10/s74010.shtml. PO 00000 Frm 00027 Fmt 4702 Sfmt 4702 6111 SECURITIES AND EXCHANGE COMMISSION 17 CFR Parts 229 and 249 [Release No. 34–63795; File No. S7–42–10] RIN 3235–AK85 Disclosure of Payments by Resource Extraction Issuers Securities and Exchange Commission. ACTION: Proposed rule; extension of comment period. AGENCY: The Securities and Exchange Commission is extending the comment period for a release proposing amendments to its rules pursuant to Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. [Release No. 34–63549; 75 FR 80977 (December 23, 2010)]. The original comment period for Release 34– 63549 is scheduled to end on January 31, 2011. The Commission is extending the time period in which to provide the Commission with comments on that release for 30 days until Wednesday, March 2, 2011. This action will allow interested persons additional time to analyze the issues and prepare their comments. SUMMARY: Comments should be received on or before March 2, 2011. ADDRESSES: Comments may be submitted by any of the following methods: DATES: Electronic Comments • Use the Commission’s Internet comment form (https://www.sec.gov/ rules/proposed.shtml); • Send an e-mail to rulecomments@sec.gov. Please include File Number S7–42–10 on the subject line; or • Use the Federal eRulemaking Portal (https://www.regulations.gov). Follow the instructions for submitting comments. Paper Comments • Send paper comments in triplicate to Elizabeth M. Murphy, Secretary, U.S. Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549–1090. All submissions should refer to File Number S7–42–10. This file number should be included on the subject line if e-mail is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission’s Internet Web site (https://www.sec.gov/rules/ proposed.shtml). Comments also are available for Web site viewing and E:\FR\FM\03FEP1.SGM 03FEP1 jdjones on DSK8KYBLC1PROD with PROPOSALS-1 6112 Federal Register / Vol. 76, No. 23 / Thursday, February 3, 2011 / Proposed Rules printing in the Commission’s Public Reference Room, 100 F Street, NE., Washington, DC 20549, on official business days between the hours of 10 a.m. and 3 p.m. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: Tamara Brightwell, Senior Special Counsel, Division of Corporation Finance, or Elliot Staffin, Special Counsel in the Office of International Corporate Finance, Division of Corporation Finance, at (202) 551–3290, U.S. Securities and Exchange Commission, 100 F Street, NE., Washington, DC 20549. SUPPLEMENTARY INFORMATION: The Commission has requested comment on a release proposing amendments to its rules to implement Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 1504 added Section 13(q) to the Securities Exchange Act of 1934, which requires the Commission to issue rules requiring resource extraction issuers to include in an annual report information relating to any payment made by the issuer, or by a subsidiary or another entity controlled by the issuer, to a foreign government or the Federal Government for the purpose of the commercial development of oil, natural gas, or minerals. Section 13(q) requires a resource extraction issuer to provide information about the type and total amount of payments made for each project 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, Section 13(q) requires a resource extraction issuer to provide certain information regarding those payments in an interactive data format, as specified by the Commission. This release was published in the Federal Register on December 23, 2010. The Commission originally requested that comments on the release be received by January 31, 2011. The nature of the proposed disclosure requirements differs from the disclosure traditionally required by the Exchange Act, and the proposal requested comment on a variety of significant aspects of the proposed rules. The Commission has received requests for an extension of time for public comment on the proposal to, among other things, allow for the collection of information and to improve the quality of responses.1 The Commission believes 1 See, e.g., letters from National Mining Association (January 3, 2011); National Stone, Sand VerDate Mar<15>2010 14:22 Feb 02, 2011 Jkt 223001 that providing the public additional time to consider thoroughly the matters addressed by the release and to submit comprehensive responses to the release would benefit the Commission in its consideration of final rules. Therefore, the Commission is extending the comment period for Release No. 34– 63549 ‘‘Disclosure of Payments by Resource Extraction Issuers’’ for 30 days, to Wednesday, March 2, 2011. By the Commission. Dated: January 28, 2011. Elizabeth M. Murphy, Secretary. BILLING CODE 8011–01–P DEPARTMENT OF THE TREASURY 31 CFR Part 29 RIN 1505–AC02 Federal Benefit Payments Under Certain District of Columbia Retirement Plans Departmental Offices, Treasury. Proposed rule; extension of comment period. AGENCY: ACTION: On November 22, 2010, the Department of the Treasury published a proposed rule to amend subpart C of its rules promulgated pursuant to the Balanced Budget Act of 1997, as amended (the Act). This notice extends the comment period on the proposed rule to April 21, 2011. Pursuant to the Act, with certain exceptions, Treasury has responsibility for payment of benefits based on service accrued as of June 30, 1997, under the retirement plans for District of Columbia teachers, police officers, and firefighters. Benefits for service after that date, and certain other benefits, are funded by the District of Columbia. Subpart C, published in 2000 as part of the final regulations to implement the provisions of the Act, establishes the methodology for determining the split between the Federal and District obligations. Pursuant to regulation, the effective date of subpart C was delayed pending completion of Treasury’s new automated retirement system, ‘‘System to Administer Retirement’’ (STAR), which replaced the District’s legacy automated retirement system. While the new system has been completed, the proposed amended subpart C will SUMMARY: & Gravel Association (January 13, 2011); and World Gold Council (January 7, 2011). Comments are available on the Commission’s Internet Web site at https://www.sec.gov/comments/s7-42-10/ s74210.shtml. Frm 00028 Fmt 4702 Sfmt 4702 Treasury invites interested members of the public to submit comments on this proposed rule. Comments may be submitted to Treasury by any of the following methods: Submit electronic comments through the Federal government erulemaking portal, https:// www.regulations.gov or by e-mail to dcpensions@do.treas.gov or send paper comments to Paul Cicchetti, Department of the Treasury, Office of DC Pensions, Metropolitan Square Building, Room 6G503, 1500 Pennsylvania Avenue, NW., Washington, DC 20220. In general, the Treasury will post all comments to https://www.regulations.gov without change, including any business or personal information provided such as names, addresses, e-mail addresses, or telephone numbers. Treasury will also make such comments available for public inspection and copying in the Treasury’s Library, Room 1428, Main Department Building, 1500 Pennsylvania Avenue, NW., Washington, DC 20220, on official business days between the hours of 10 a.m. and 5 p.m. Eastern Time. You can make an appointment to inspect comments by telephoning (202) 622– 0990. All comments, including attachments and other supporting materials received, are part of the public record and subject to public disclosure. You should submit only information that you wish to make available publicly. ADDRESSES: [FR Doc. 2011–2359 Filed 2–2–11; 8:45 am] PO 00000 establish additional rules and provide additional examples of benefit calculation scenarios, the need for which was identified during systems development. The amendments to subpart C will have minimal financial impact and are introduced to simplify calculations and maintain consistency with the general principles established in the original regulations. DATES: Comment due date: April 21, 2011. Paul Cicchetti, (202) 622–1859, Department of the Treasury, Office of DC Pensions, Metropolitan Square Building, Room 6G503, 1500 Pennsylvania Avenue, NW., Washington, DC 20220. SUPPLEMENTARY INFORMATION: On November 22, 2010, the Department of the Treasury published a proposed rule to amend subpart C of its rules promulgated pursuant to the Balanced Budget Act of 1997, as amended, related to certain payments of retirement benefits under the retirement plans for District of Columbia teachers, police officers, and firefighters. See 75 FR 71047. FOR FURTHER INFORMATION CONTACT: E:\FR\FM\03FEP1.SGM 03FEP1

Agencies

[Federal Register Volume 76, Number 23 (Thursday, February 3, 2011)]
[Proposed Rules]
[Pages 6111-6112]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-2359]


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SECURITIES AND EXCHANGE COMMISSION

17 CFR Parts 229 and 249

[Release No. 34-63795; File No. S7-42-10]
RIN 3235-AK85


Disclosure of Payments by Resource Extraction Issuers

AGENCY: Securities and Exchange Commission.

ACTION: Proposed rule; extension of comment period.

-----------------------------------------------------------------------

SUMMARY: The Securities and Exchange Commission is extending the 
comment period for a release proposing amendments to its rules pursuant 
to Section 1504 of the Dodd-Frank Wall Street Reform and Consumer 
Protection Act. [Release No. 34-63549; 75 FR 80977 (December 23, 
2010)]. The original comment period for Release 34-63549 is scheduled 
to end on January 31, 2011. The Commission is extending the time period 
in which to provide the Commission with comments on that release for 30 
days until Wednesday, March 2, 2011. This action will allow interested 
persons additional time to analyze the issues and prepare their 
comments.

DATES: Comments should be received on or before March 2, 2011.

ADDRESSES: Comments may be submitted by any of the following methods:

Electronic Comments

     Use the Commission's Internet comment form (https://www.sec.gov/rules/proposed.shtml);
     Send an e-mail to rule-comments@sec.gov. Please include 
File Number S7-42-10 on the subject line; or
     Use the Federal eRulemaking Portal (https://www.regulations.gov). Follow the instructions for submitting comments.

Paper Comments

     Send paper comments in triplicate to Elizabeth M. Murphy, 
Secretary, U.S. Securities and Exchange Commission, 100 F Street, NE., 
Washington, DC 20549-1090.

All submissions should refer to File Number S7-42-10. This file number 
should be included on the subject line if e-mail is used. To help us 
process and review your comments more efficiently, please use only one 
method. The Commission will post all comments on the Commission's 
Internet Web site (https://www.sec.gov/rules/proposed.shtml). Comments 
also are available for Web site viewing and

[[Page 6112]]

printing in the Commission's Public Reference Room, 100 F Street, NE., 
Washington, DC 20549, on official business days between the hours of 10 
a.m. and 3 p.m. All comments received will be posted without change; we 
do not edit personal identifying information from submissions. You 
should submit only information that you wish to make available 
publicly.

FOR FURTHER INFORMATION CONTACT: Tamara Brightwell, Senior Special 
Counsel, Division of Corporation Finance, or Elliot Staffin, Special 
Counsel in the Office of International Corporate Finance, Division of 
Corporation Finance, at (202) 551-3290, U.S. Securities and Exchange 
Commission, 100 F Street, NE., Washington, DC 20549.

SUPPLEMENTARY INFORMATION: The Commission has requested comment on a 
release proposing amendments to its rules to implement Section 1504 of 
the Dodd-Frank Wall Street Reform and Consumer Protection Act. Section 
1504 added Section 13(q) to the Securities Exchange Act of 1934, which 
requires the Commission to issue rules requiring resource extraction 
issuers to include in an annual report information relating to any 
payment made by the issuer, or by a subsidiary or another entity 
controlled by the issuer, to a foreign government or the Federal 
Government for the purpose of the commercial development of oil, 
natural gas, or minerals. Section 13(q) requires a resource extraction 
issuer to provide information about the type and total amount of 
payments made for each project 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, Section 13(q) requires a 
resource extraction issuer to provide certain information regarding 
those payments in an interactive data format, as specified by the 
Commission. This release was published in the Federal Register on 
December 23, 2010.
    The Commission originally requested that comments on the release be 
received by January 31, 2011. The nature of the proposed disclosure 
requirements differs from the disclosure traditionally required by the 
Exchange Act, and the proposal requested comment on a variety of 
significant aspects of the proposed rules. The Commission has received 
requests for an extension of time for public comment on the proposal 
to, among other things, allow for the collection of information and to 
improve the quality of responses.\1\ The Commission believes that 
providing the public additional time to consider thoroughly the matters 
addressed by the release and to submit comprehensive responses to the 
release would benefit the Commission in its consideration of final 
rules. Therefore, the Commission is extending the comment period for 
Release No. 34-63549 ``Disclosure of Payments by Resource Extraction 
Issuers'' for 30 days, to Wednesday, March 2, 2011.
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    \1\ See, e.g., letters from National Mining Association (January 
3, 2011); National Stone, Sand & Gravel Association (January 13, 
2011); and World Gold Council (January 7, 2011). Comments are 
available on the Commission's Internet Web site at https://www.sec.gov/comments/s7-42-10/s74210.shtml.

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    By the Commission.

    Dated: January 28, 2011.
Elizabeth M. Murphy,
Secretary.
[FR Doc. 2011-2359 Filed 2-2-11; 8:45 am]
BILLING CODE 8011-01-P
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