George Wang in Inside Counsel: On SEC Specialized Disclosure Rules, Court Rejects One, Upholds Another


In separate July rulings, the U.S. District Court for the District of Columbia spoke to challenges over two rules the Securities and Exchange Commission (SEC) promulgated under specialized disclosure provisions in the Dodd-Frank Wall Street Reform and Consumer Protection Act, vacating one rule and upholding the other.

On July 2, U.S. District Judge John Bates granted a motion for summary judgment by industry groups that had challenged the SEC rule requiring certain companies to publicly disclose payments they make to foreign governments in connection with the commercial development of oil, natural gas or minerals...

There is a chance that the trade groups could appeal the district court decision. “The question is how well funded they are,” says George Wang, a partner at Haynes and Boone, LLP. “Can they afford to do an appeal?”

Excerpted from Inside Counsel, September 4, 2013. To view full article, click here.

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