African Caribbean Pacific – EU Joint Parliamentary Assembly 20th Session – Europe urged to pass a law similar to Dodd-Frank.
4.12.2010
The 20th Session of the joint Africa Pacific Caribbean – EU Parliamentary Assembly was held from 2 to 4 December 2010 in Kinshasa . Speaking at the opening ceremony, co-president of the assembly Louis Michel urged the EU to pass a law similar to the American Dodd-Frank Act, which requires extractive companies listed in the US to disclose their payments in each country where they operate. He added, “Such disclosure would have a deterrent effect on corruption and illicit financial flows that result in many countries, which despite being rich in natural resources end up with a huge loss of resources, worsening conflicts and deep poverty". On the last day of the assembly, EU Commissioner for trade Karel de Gucht also raised the issue of transparency in the extractive industry. He referred to governments’ efforts in reversing the ‘resource curse’
stating that ‘international rules and targeted initiatives’ such as the Kimberley Process, EITI and Dodd Frank were ‘conducive to solutions in tackling these complex issues’. Karel de Gucht went on to state that, “as the world's largest importer of raw materials, [the EU] should not hesitate to live up to its own responsibilities in this, including those of [its] own companies. The European Commission has been considering the issue of transparency in the extractive industries within the wider context of EU-financial
regulatory reform, and my Colleague Commissioner Barnier is conducting a public consultation to gather stakeholders' views on financial reporting by multinational companies.”
EU Commissioner Piebalgs at EU Development Days, "Transparency is Key"
6.12.2010
At a panel discussion on how EU policy can generate additional resources for development and help create conditions necessary to assist growth, Development Commissioner Piebalgs responded to an enquiry on whether the EU would pass legislation similar to Dodd-Frank. Piebalgs was hopeful that, after impact assessment, the EU would pronounce strong legal measures in the second half of this year. He was confident that all the evidence gathered in the studies would lead to such action, dismissing the counter-argument used by companies that such legislation is anti-competitive.
NEW YORK, December 15, 2010—In releasing draft rules for enforcing transparency provisions mandated by U.S. financial reforms, the Securities and Exchange Commission (SEC) today outlined important initial steps for oil, gas and mining companies to make public the payments made to the U.S. or foreign governments, the Revenue Watch Institute said.
"The commission has important work ahead to define the full scope of the activities covered by the rules, the payments that are covered and how they will be reported," said Karin Lissakers, director of Revenue Watch.
The Dodd-Frank Wall Street Reform and Consumer Protection Act gives the SEC a deadline of April 15, 2011 for finalizing the rules for resource extraction transparency. The law requires public disclosure of payments to governments for the development of oil, natural gas or minerals. The requirement applies to international as well as U.S.-based companies listed with the SEC.
"We hope the commission will keep exceptions to the disclosure required to a minimum," Lissakers said. "The SEC will be helping to create a new international transparency standard, as other countries are likely to follow the U.S. lead on these disclosures."
Calls for EITI Nominations
Nominations are being sought for civil society representatives to the Board of the Extractive Industries Transparency Initiative (EITI). The new EITI Board will be officially appointed in March 2011 on the occasion of the EITI Global Conference in Paris.
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Des candidatures sont recherchées pour les postes de représentants de la société civile au conseil international de l’Initiative pour la Transparence dans les Industries Extractives (ITIE). Le nouveau conseil d’ITIE sera officiellement élu en Mars 2011 à l’occasion de la conférence mondiale d’ITIE à Paris.
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Кандидатуры в настоящее время изыскиваются для представителей гражданского общества Совета Инициативы прозрачности добывающих отраслей (EITI). Новые Правления EITI будет официально назначен в марте 2011 года в связи с Глобальной конференции EITI в Париже.
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Job Vacancies
Global Witness - US Policy Advisor
Global Witness is seeking an experienced Policy Advisor for our fast paced and busy Washington DC office to raise the profile of natural resource governance issues in the DC policymaking community, and to advocate for policies to prevent natural resource-related corruption. Key responsibilities will include undertaking and co-ordinating advocacy and educational efforts with a wide range of key U.S. constituencies, including policymakers, international financial institutions, the private sector, and NGOs .
If you have a demonstrable record of advocacy success in the non-profit sector, in the U.S. government or IFIs, have developed and implemented advocacy strategies and can engage with policymakers, companies and constituencies, then we want to hear from you for this challenging and dynamic role. You must also have excellent writing skills and experience of producing reports, press releases and policy documents.
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Closing date: 9am (London UK Time) December 23rd 2010.
Location: Washington D.C., U.S.
Salary: Competitive
Revenue Watch Institute – Regional Officer
The Regional Associate will provide general support to RWI’s Africa Regional Office, based in Accra, Ghana, with special emphasis on and requirements for the Regional Coordinator (RC) and Deputy Regional Coordinator. These responsibilities include, but are not limited to assisting with project management, grants management and administration, budget monitoring and reporting, research and analysis, and communication with partners and RWI staff. The Regional Associate will report to the Regional Coordinator and be located in the RWI Ghana office in Accra.
Salary: Commensurate with experience; opportunities for professional advancement.
Start date: Immediately.
To apply: Please email resume, cover letter, and three professional references as soon as possible or by January 7, 2011 to: rwi@revenuewatch.org. Include job code in subject line: Africa Associate/RWI.
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Senior Regional Associate: Latin America - RWI
The Senior Associate will support the Regional Coordinator (RC), including assisting with strategic planning, project management, capacity building, technical assistance, grants management and administration, budget monitoring and reporting, research and analysis, representation and communication with partners and RWIstaff. The Senior Associate will report to the Regional Coordinator and be located in Lima, Peru.
Salary: Commensurate with experience; opportunities for professional advancement.
Start date: Immediately
To apply: Please email resume, cover letter, and three professional references as soon as possible or by January 7, 2011 to: rwi@revenuewatch.org. Include job code in subject line: LA Senior Associate/RWI.
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