4726 Federal Register / Vol. 86, No. 10 / Friday, January 15, 2021 / Notices 

1See Release No. 34–90679. 

2OJ L 182, 29.6.2013. 

3OJ L 294, 6.11.2013. 

4 2014 UK Statutory Instrument No. 3209. 

5FOR–2013–12–20–1682. 

6S.C. 2014, c. 39, s. 376. 

SECURITIES AND EXCHANGE 

COMMISSION 

[Release No. 34–90680] 

Order Recognizing the Resource 

Extraction Payment Disclosure 

Requirements of the European Union, 

the United Kingdom, Norway, and 

Canada as Alternative Reporting 

Regimes that Satisfy the Transparency 

Objectives of Section 13(q) Under the 

Securities Exchange Act of 1934 

December 16, 2020. 

For the reasons set forth in the 

Commission adopting release 

‘‘Disclosure of Payments by Resource 

Extraction Issuers’’ for 17 CFR 240.13q1 (Rule 13q-1) and the accompanying 

amendments to Form SD,1 the 

Commission hereby finds that the 

following resource extraction payment 

disclosure regimes are alternative 

reporting regimes that satisfy the 

transparency objectives of Section 13(q) 

under the Exchange Act for purposes of 

alternative reporting under Rule 13q1(c) and paragraph (c) of Item 2.01 of 

Form SD: 

1. Directive 2013/34/EU of the 

European Parliament and of the Council 

of 26 June 2013 on the annual financial 

statements, consolidated financial 

statements and related reports of certain 

types of undertakings (‘‘EU Accounting 

Directive’’) 2 as implemented in a 

European Union or European Economic 

Area member country; 

2. Directive 2013/50/EU of the 

European Parliament and of the Council 

of 22 October 2013 amending Directive 

2004/109/EC on transparency 

requirements in relation to information 

about issuers whose securities are 

admitted to trading on a regulated 

market, Directive 2003/71/EC of the 

European Parliament and of the Council 

on the prospectus to be published when 

securities are offered to the public or 

admitted to trading and Commission 

Directive 2007/14/EC on the 

implementation of certain provisions of 

Directive 2004/109/EC (‘‘EU 

Transparency Directive’’) 3 as 

implemented in a European Union or 

European Economic Area member 

country; 

3. United Kingdom’s Reports on 

Payments to Governments Regulations 

2014; 4

4. Norway’s Regulations on Countryby-Country Reporting; 5 and 

5. Canada’s Extractive Sector 

Transparency Measures Act 

(‘‘ESTMA’’).6

Issuers are advised that our 

determination of an alternative 

reporting regime satisfying the 

transparency objectives of Section 13(q) 

with respect to each of these five 

regimes may be subject to 

reconsideration if there should be any 

significant modifications to such 

regime. 

The Commission also hereby finds 

that this determination is in the public 

interest and consistent with the 

protection of investors. Accordingly, it 

is hereby ordered pursuant to Section 

36(a) of the Exchange Act3 that a 

resource extraction issuer, as defined in 

Item 2.01(d) of Form SD, that submits a 

report complying with the reporting 

requirements of either the EU 

Accounting Directive or the EU 

Transparency Directive, in each case as 

implemented in a European Union or 

European Economic Area member 

country, the United Kingdom’s Reports 

on Payments to Governments 

Regulations 2014, Norway’s Regulations 

on Country-by-Country Reporting, or 

Canada’s ESTMA, in accordance with 

the requirements set forth in paragraph 

(c) of Item 2.01 of Form SD, will satisfy 

its disclosure obligations under Rule 

13q–1. 

By the Commission. 

Vanessa A. Countryman, 

Secretary. 

[FR Doc. 2020–28104 Filed 1–14–21; 8:45 am] 

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