The FCA has today confirmed that new Disclosure Rules and Transparency Rules (DTRs) to report on payments to governments have entered into force. This follows an announcement on 12 December[1], which set out requirements under the Transparency Directive for issuers involved in the extractive or logging of primary forest industries to produce annual reports on payments made to the governments in the countries they operate in.
The new rules[2] will take effect for financial years beginning on or after 1 January 2015 and the FCA expects to publish a detailed Policy Statement on 2 January 2015.