Court overturns 1 SEC conflict minerals provision

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Associated Press

Posted on April 14, 2014 at 4:01 PM

Updated Monday, Apr 14 at 4:02 PM

WASHINGTON (AP) — A federal appeals court has overturned a disclosure requirement that public companies provide information about their use of minerals from Congo, where militias linked to atrocities have profited from mining minerals used in electronics, jewelry and other goods.

The appeals court says the disclosure requirement violates the free speech rights of companies that must inform the Securities and Exchange Commission and publicize on their websites as well that any of their products have not been found to be free of mineral conflicts.

While overturning the disclosure requirement, the court rejected industry arguments that the SEC must conduct rigorous, quantitative economic analysis on the costs and the benefits of the conflict minerals rule.

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