The U.S. Court of Appeals for the D.C. Circuit has denied an emergency motion by the National Association of Manufacturers, the U.S. Chamber of Commerce and the Business Roundtable to stay the Securities and Exchange Commission’s conflict minerals rule under the Dodd-Frank Act requiring companies to disclose their use of minerals such as tungsten and tin mined in war-torn areas of Africa like the Democratic Republic of the Congo.
Despite the industry groups’ efforts to delay implementation of the rule, the decision by the appeals court on Wednesday reinforces the originally mandated June 2, 2014 reporting deadline, consistent with new guidance issued by the SEC modifying the reporting requirements in accordance with the Court of Appeals’ ruling on April 14 (see SEC Partially Stays Conflict Mineral Rules).
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