THE STATUS OF FINANCIAL REPORTING IN THE EXTRACTIVE INDUSTRIES IN THE US AND EU. The Oslo Dialogue Meeting the 23rd May will bring together high-level Norwegian and EU elected officials, regulators, investors, representatives of capital markets and others interested in development in the U.S. and EU related to country by country reporting regulations for extractive companies.
The US has signed into law a regulation for extractive companies which is thought to apply to 90% of multinational companies and 8 out of the 10 largest extractive companies.
The EU held a consultation on country by country reporting. The EU regulations are likely to go beyond the US regulation
The Norwegian government has stated that it is willing to consider such regulations on an individual basis, as noted in its report against financial crime
The event will include high-level Norwegian and EU elected officials, regulators, investors, representatives of the Oslo Stock Exchange and others interested in discussing development in the U.S. and EU related to country by country reporting regulations for extractive companies. Confirmed speakers and participants are: Jose Correia Nunes Head of Unit Economic Governance and Budget Support in the EU commission, Norwegian State Secretary in the Ministry of Finance Roger Schjerva, Norwegian State Secretary in the Ministry of Foreign Affairs Ingrid Fiskaa, US Senator Ben Cardin, Raymond Baker Director Global Financial Integrity, Karin Lissakers Director Revenue Watch Institute, Bennet Freeman Senior Vice President for Sustainable Research Calvert Investments, Giuseppe van der Helm president Eurosif, and Jeanett Bergan, Director Responsible Investments KLP. The meeting is being hosted by "KLP":http://www.klp.no/bedrift and "Publish What You Pay Norway"