On SEC specialized disclosure rules, court rejects one, upholds another

The DC Circuit examined whether companies needed to publicly disclose payments to foreign governments or use of conflict minerals.

In separate July rulings, the U.S. District Court for the District of Columbia spoke to challenges over two rules the Securities and Exchange Commission (SEC) promulgated under specialized disclosure provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act, vacating one rule and upholding the other.

On July 2, U.S. District Judge John Bates granted a motion for summary judgment by industry groups that had challenged the SEC rule requiring certain companies to publicly disclose payments they make to foreign governments in connection with the commercial development of oil, natural gas or minerals.

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Melissa Maleske

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