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SEC forgoes Supreme Court appeal for conflict minerals rule

Joe Mont | April 11, 2016

The Securities and Exchange Commission had until April 7 to defend its controversial conflict minerals rule by appealing to the Supreme Court.

While many watched for the filing of a writ of certiorari on the deadline day, there was a twist: a decision to forgo a challenge was made, with little fanfare, last month. The decision was outlined in a March 4 letter to Speaker of the House Paul Ryan from Attorney General Loretta Lynch.

“Although the Commission defended the constitutionality of the conflict-minerals disclosure regime in the court of appeals, the Department of Justice has decided, in consultation with the Commission, not to file a petition for a writ of certiorari seeking review of the court of appeals ' decision,” Lynch wrote. The decision not to seek Supreme Court review will allow the Commission or the district court to determine in the first instance,...

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