Biz Groups Blast SEC's Conflict Mineral Disclosure Rule

Law360, Washington (July 1, 2013, 4:28 PM EDT) -- The U.S. Chamber of Commerce and two business groups urged a Washington federal judge on Monday to nix the U.S. Securities and Exchange Commission's disclosure requirement for companies using "conflict minerals," claiming the rule imposes a "scarlet letter" on the companies without accomplishing its foreign policy goals.

Although the SEC claims the rule will help cut off funding to violent groups in the Democratic Republic of Congo, the chamber, National Association of Manufacturers and Business roundtable maintained the agency has no evidence to back up the...
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