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SEC Staff Relaxes Conflict Minerals Reporting

Effective immediately, the SEC staff has relaxed conflict minerals reporting requirements by public companies. The change was triggered by the entry of a final judgment in the conflict minerals case. ...more

Court Enters Final Judgment in Conflict Minerals Case

The United States District Court for the District of Columbia has entered a final judgment in the conflict minerals case. The final judgment is identical to the proposed judgment which we described previously....more

Parties Request Judgment be Entered in Conflict Minerals Case

The conflict minerals case was remanded to the United Stated District Court for the District of Columbia for further proceedings. Judge Jackson ordered the parties to file a joint status report indicating whether any further...more

SEC Resource Extraction Rule to be Eliminated Under Congressional Review Act

As we previously noted, the House was set to vote on the disapproval of the SEC Resource Extraction Rule under the Congressional Review Act. The joint resolution passed the House by a vote of 235 in favor and 187 against. ...more

House Seeking to Disapprove the Resource Extraction Rule

On Wednesday, February 1, 2017, the House of Representatives is scheduled to consider a joint resolution of disapproval of the SEC’s resource extraction rule. This resolution is provided for under the Congressional Review Act...more

Conflict Minerals Legislation Coming to the EU

According to this Reuters article and a blog by Elm Sustainability Partners LLC, an informal deal for EU conflict minerals legislation has been reached. The final text will be voted on by the member states on December 7,...more

SEC Adopts Resource Extraction Rules

Responding to a court order, the SEC adopted rules to require resource extraction issuers to disclose payments made to governments for the commercial development of oil, natural gas or minerals. The rules, mandated by the...more

Apple’s Conflict Minerals Smelters Nearly 100% Audited

Apple has filed its Form SD for the year ended December 31, 2015. It includes this disclosure: The combination of training, public reporting and a ticking clock drove the number from 82 smelters and refiners...more

SEC Proposes New Resource Extraction Rule

The SEC has proposed Rule 13q-1 and an amendment to Form SD to implement Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to disclosure of payments by resource extraction issuers. Rule...more

SEC Tells Court It Will Implement Resource Extraction Rules in 270 Days

As previously noted, a Federal court held that the delay in implementing the resource extraction rules violated the Administrative Procedures Act. The court ordered the SEC to file with the court in 30 days an expedited...more

Preliminary Planning for the 2016 Proxy Season

Some will want to start preliminary planning for the 2016 proxy season. It has been a bewildering year of developments, but most will be thankful that there are relatively few new rules that must be implemented at this time....more

Court Orders SEC to Implement Resource Extraction Rule

To review: On July 2, 2013, the United States District Court for the District of Columbia vacated the SEC’s resource extraction rules which were mandated by the Dodd-Frank Act. Oxfam America then brought a suit against the...more

SEC Sued to Implement Resource Extraction Rules

On July 2, 2013, the United States District Court for the District of Columbia vacated the SEC’s resource extraction rules which were mandated by the Dodd-Frank Act. Since that time, industry players have asked the SEC to...more

Representatives Object To Exemption From Resource Extraction Rule Disclosures

Congress is working to reconcile differing versions of legislation to implement an Obama Administration deal with Mexico to develop oil and gas resources in the Gulf of Mexico. Three Democratic lawmakers recently wrote...more

SEC Will Not Appeal Resource Extraction Decision

The United States District Court for the District of Columbia previously vacated the SEC resource extraction disclosure rules. According to various published press reports, the SEC will not appeal the decision. “The court...more

Court Upholds SEC Conflict Minerals Rule

The United States District Court for the District of Columbia has upheld the SEC’s conflict minerals rule in National Association of Manufacturers et al v. Securities and Exchange Commission. ...more

Court Vacates SEC Resource Extraction Rules

The United States District Court for the District of Columbia has vacated the SEC resource extraction disclosure rules....more

SEC Issues FAQs On Disclosure Of Payments By Resource Extraction Issuers

The SEC has issued nine frequently asked questions, or FAQs, on the disclosure of payments by resource extraction issuers....more

Conflict Minerals Challenge To Follow Resource Extraction Case To District Court

As previously noted, the Court of Appeals for the District of Columbia recently dismissed a challenge to the SEC’s resource extraction rules for lack of jurisdiction. The case was left to proceed pursuant to a previously...more

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