The Securities and Exchange Commission (SEC) is set to make a ruling sometime in the next few weeks. The 2010 law was disputed by oil companies more than five years ago, and the SEC has been dragging its feet in finalizing a ruling.
As it currently stands, foreign governments are not required to share how much they're being paid by extraction companies (think oil, minerals, stones, etc.) for the resources they are extracting. The nature of these dealings allows for shady business practices such as bribery to go unnoticed. If there is no oversight and no transparency, then the profits will stay with a small group of people and not benefit the community at large.
A certain amount of the money coming is required to go back into the communities from which the resources were taken. These communities have no idea how much the government is making off of the resources, so they can’t know how much they should be asking for in recompense.
For this reason, we are seeking a strong ruling on Section 1504 of the Dodd Frank Act. We want governments to publicly publish the amount companies are paying for valuable natural resources so these communities can hold them responsible for those funds.
As the day approaches for the SEC to make the ruling, join us in prayer. It’s the most important thing we can do right now. We’ve visited our elected officials; we’ve petitioned the government; we’ve taken to social media to compel the SEC to make a strong ruling. Now, this is completely in God’s hands. Let us offer it up willingly and corporately.
Thank you for the opportunity to see injustice righted. Thank you for those who are working tirelessly to bring justice to those victimized by corruption. We know that corruption is harming those living in extreme poverty most, and we are desperate to see transparency and justice.
We pray that you be with those who are making the ruling on Section 1504. Please guide them and give them wisdom. Let them not be persuaded by the money and power of major corporations. Help them see how this issue affects marginalized communities around the world. Grip their hearts and minds. Compel them to create a strong ruling that will benefit communities rather than corporations and corrupt governments. Help them to understand the gravity and consequence of this ruling.
Please be with the corporations who have been so actively fighting Section 1504. Open their eyes so they see the communities that are suffering due to their greed. Guide the CEOs and lawyers and owners and shareholders. Help them to put people in front of profits.
Please be with the communities directly affected by the decision of the SEC. Let them know their voices are being heard and shared within halls of power around the world. Let them know we care and are doing all that we can to help them. Give them strength and fortitude as they directly deal with the aftereffects of the ruling.
Lastly, please be with us. Let us never tire of doing what is right. Guide us to be instruments for your will. Help us to be Your voice. Your hands. Your feet. Give us the strength and courage to continue to seek justice with those living in extreme poverty.
Thank you for your unfailing love and care. It is amazing that these issues matter so much to you. Never let us forget how much you love and care for all of your creation.