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Conflict Minerals Rule in Limbo, as Legal Challenge Awaits

Joe Mont | October 30, 2012

Companies waited for more than two years for the Securities and Exchange Commission to provide specifics on the Dodd-Frank Act's rule requiring disclosure of conflict minerals in a company's supply chain. Now, as a legal challenge to the rule awaits, they will have to wait some more.

The manufacturing industry and the U.S. Chamber of Commerce last week launched their long-awaited legal challenge against the SEC on the rule. But even if the lawsuit was easy to predict—business groups have hinted at launching a legal challenge of the rule for months—it only brings more uncertainty to businesses trying to decide how best to satisfy their current and future compliance obligations.

A full brief, outlining the plaintiffs' strategy, remains forthcoming. The plaintiffs' petition with U.S. Court of Appeals for the District of Columbia requests “that the rule be modified or set aside in whole or in part.”

The rule, mandated by Section 1502 of Dodd-Frank, applies to the...

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