American Forum

AMERICAN FORUM
By Monique Perry Danziger

Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act was an anti-corruption game-changer tucked into a historic, comprehensive piece of legislation aimed primarily at overhauling the nation’s financial regulatory structure. Since becoming law, anti-corruption and financial transparency proponents are still waiting for the law to be implemented.

Section 1504 of the Dodd-Frank Wall Street Reform Act would require oil, gas, and mining companies that must report to the SEC—approximately 90 percent of the major internationally operating oil and gas companies in the world—to disclose payments made to governments for the oil, gas, and minerals they extract. This would be a boon to anti-corruption workers trying to get the records straight when investigating bribery and corruption in developing countries. It also would serve investors looking to make informed decisions about their portfolios.

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