The SEC has filed documentation with the District of Columbia Court of Appeals seeking an en banc rehearing of the conflict minerals decision. The original decision found that one piece of the disclosure required by the rule—the requirement that issuers report to the Securities and Exchange Commission and state on their website “that any of their products have not been found to be ‘DRC conflict free’”—compelled speech in violation of the First Amendment.  The SEC is seeking a rehearing because the same court granted en banc rehearing in American Meat Institute v. United States Department of Agriculture, to consider whether rational basis review can apply to compelled disclosures even if they serve interests other than preventing deception.

 

Topics:  American Meat Institute, Conflict Mineral Rules, Disclosure, Disclosure Requirements, En Banc Review, SEC, USDA

Published In: Civil Procedure Updates, General Business Updates, Constitutional Law Updates, Securities Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Stinson Leonard Street - Dodd-Frank and the Jobs Act | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »