U.S. District Court Upholds the Conflict Minerals Rule, but Vacates the Resource Extraction Rule

The U.S. District Court for the District of Columbia has released two important rulings this month that speak to the SEC’s ability to promulgate rules.   On July 23rd, the court upheld the SEC’s conflict minerals rule (see here) and on July 2nd, the court vacated and remanded the SEC’s resource extraction payment rule (see here).  Both rules were implemented pursuant to the Dodd-Frank Act.

Covington & Burling has prepared useful summaries of each opinion available here and here.