In recent years, the Securities and Exchange Commision (SEC) has begun to take a more proactive approach in ensuring transparency among major financial entities. This proactive approach was established in The Dodd-Frank Act. One of these reforms has been to create legislation that requires the institution to provide disclosures about resource extraction payments. This legislation is designed to prevent fraud in the world of alternative investments.

If you are considering applying for a contract with a certain governmental entity, then you may wish to meet with a Union New Jersey Business Lawyer. A New Jersey Business Lawyer can help you to understand the terms of the agreement. Our office also serves Elizabeth and other nearby North Jersey towns and cities.

Any entity that engages in the production of commercial oil or other natural resources will be required to abide by the new legislation. The SEC will now require that these entities make reports on a cash-basis. These entities will need to completely redo the way in which they do their accounting.

Those who wish to ensure that they also abide by this disclosure method may wish to meet with a Business Lawyer in Union or Newark New Jersey. A Business Law attorney can help you to see whether your accounting methods suffice for the new SEC legislation. A Newark Business Law attorney can also work to explain the specific ramifications of this legislation for your commercial oil enterprise. It will be important that you understand the law and abide by it in the future, otherwise you may face a hefty fine from the SEC. In some cases, the SEC may even find that a lack of disclosures constitutes grounds for a charge of fraud. You do not want this to happen to your commercial resource enterprise.

An attorney from The Jayson Law Group LLC can help you to figure out ways to make disclosures and continue to have a competitive advantage. One of the major concerns of this legislation is that oil produces will not be at a competitive disadvantage for sharing certain information. If you prepare ahead of time, this does not have to be you. Just because you make disclosures to the SEC does not mean that you have to lose out on clients to all of your competitors.