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Dodd-Frank: Title XV - Miscellaneous Provisions
Title XV of the Dodd-Frank Act contains seven miscellaneous provisions. It restricts the ability of the United States’ Executive Director at the International Monetary Fund to approve loans to foreign countries that are unlikely to be repaid in full. It also imposes additional disclosure requirements on individuals selling products containing conflict minerals from the Democratic Republic of Congo or surrounding areas, securities issuers engaged in the commercial development of oil, natural gas or minerals, and mine operators. Additionally, Title XV directs the Comptroller General of the United States and the Federal Deposit Insurance Corporation to conduct studies and issue reports to Congress within one year of the Title’s enactment.
Definition: Title XV is a section of the Dodd-Frank Wall Street Reform and Consumer Protection Act that contains seven miscellaneous provisions. These provisions include restrictions on loans made by the United States' Executive Director at the International Monetary Fund, additional disclosure requirements for individuals selling products containing conflict minerals, securities issuers engaged in the commercial development of oil, natural gas, or minerals, and mine operators. Title XV also requires the Comptroller General of the United States and the Federal Deposit Insurance Corporation to conduct studies and issue reports to Congress within one year of the Title's enactment.
One example of a provision in Title XV is the restriction on loans made by the United States' Executive Director at the International Monetary Fund. If a loan proposal is unlikely to be repaid in full, the Executive Director must oppose the proposal. This protects United States taxpayers by ensuring that their money is not used for excessive subsidies to foreign governments.
Another example is the additional disclosure requirements for securities issuers engaged in the commercial development of oil, natural gas, or minerals. These issuers must disclose certain payments made to the United States or foreign governments in an annual report. This promotes transparency and accountability in the industry.
A third example is the requirement for mine operators to disclose information about violations of health and safety standards in annual reports filed with the Securities & Exchange Commission. This information must include the total number of violations and citations received, as well as the total number of mining-related fatalities. This promotes safety in the industry and allows investors to make informed decisions.
Title XV of the Dodd-Frank Act contains several provisions that aim to promote transparency, accountability, and safety in various industries. The examples provided illustrate how these provisions work in practice. The restriction on loans made by the United States' Executive Director at the International Monetary Fund ensures that taxpayer dollars are not used for excessive subsidies to foreign governments. The additional disclosure requirements for securities issuers and mine operators promote transparency and accountability in these industries. By requiring mine operators to disclose information about violations of health and safety standards, investors can make informed decisions and promote safety in the industry.Dodd-Frank: Title XIV - Mortgage Reform and Anti-Predatory Lending Act | Dodd-Frank: Title XVI - Section 1256 Contracts