Reuters reported that the US Appeals Court for the District of Columbia Circuit has denied a request from three trade groups to delay the implementation of the US Securities and Exchange Commission’s (SEC) conflict minerals rule.
As quoted in the market news:
Wednesday’s decision means that companies will have to start complying with parts of the Securities and Exchange Commission’s new rule on June 2.
It also marks a blow to the National Association of Manufacturers, the U.S. Chamber of Commerce and the Business Roundtable, the three groups that had challenged the rule and most recently sought to have it delayed.
The SEC’s conflict minerals rule is a requirement from the 2010 Dodd-Frank Wall Street reform law.