S 5416
1504 Modernization Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The 1504 Modernization Act aims to increase transparency regarding payments made by resource extraction companies to foreign governments. It amends the Securities Exchange Act of 1934 to require these companies to disclose detailed information about these payments on a project-by-project basis, including amounts, currencies, and recipients. The goal is to enhance investor confidence, promote accountability, and combat corruption related to resource extraction activities globally. The bill also clarifies the definition of ‘commercial extractive industry activity’ and establishes requirements for submitting this data in an electronic format.
Sponsors
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Primary sponsor
Benjamin L. Cardin
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