Business groups sue SEC over Dodd-Frank rule

Organizations challenge one of the Act’s new requirements

Several business groups aren’t happy with a new Dodd-Frank rule, and they’re taking the Securities and Exchange Commission (SEC) to court over it.

The U.S. Chamber of Commerce, the American Petroleum Institute (API) and two other groups filed suit yesterday against the SEC, challenging a new rule that would require oil, mining and gas companies to disclose any payments they make to foreign governments. In their suit, the business groups claim the SEC didn’t adequately weigh the cost and benefits of the new requirement.


Cathleen Flahardy

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