SEC responds to US court of appeals decision on conflict minerals rule
Both the Securities and Exchange Commission (SEC) and its staff recently responded to the 14 April ruling of a federal appeals court that the SEC’s conflict minerals rule violates the First Amendment’s prohibition against compelled speech to the extent that it requires issuers to disclose in their Conflict Minerals Report filed with the SEC and to state on their website that any of their products have ‘not been found to be ‘DRC conflict free’. The decision of the US Court of Appeals for the District of Columbia Circuit, which is discussed in the SEC Update, has raised questions about how issuers should present their disclosures on conflict minerals under Exchange Act Rule 13p-1 and Form SD.
A commission order and guidance by the staff indicate that the Court of Appeals’ decision will not affect the obligation of public companies under Rule 13p-1 to file their initial Form SD and any related Conflict Minerals Report by the due date of 2 June 2014. The report, however, will not have to contain the disclosures that the court found would interfere with the reporting company’s exercise of free speech…
Click on the link below to read the rest of the Hogan Lovells briefing.
News from Hogan Lovells
News from The Lawyer
Briefings from Hogan Lovells
An interesting judgment was delivered by the Honourable J Majiki on 19 November 2013 in the Eastern Cape High Court, Port Elizabeth.
New policy on the appointment of insolvency practitioners — could this be a turning point in the South African insolvency industry?
The minister of justice and constitutional development has recently determined a policy on the appointment of insolvency practitioners.
Analysis from The Lawyer
As international firms question their future in these small, closely linked markets, local lawyers too are eyeing the business environment with caution
Beyond the headline infrastructure projects, UK construction work is still recovering from the clobbering it took during the slump