US Federal Appeals Court Says Dodd-Frank Violates 1st Amendment

摘要

A US Appeals Court in April ruled that the so-called Conflict Minerals clause within the 2010 Dodd-Frank Act violates the First Amendment. The ruling by a three-judge panel could foreshadow a striking of the law by the full court later this year. The panel voted two to one that the part of Dodd-Frank that requires a company to publicly disclose whether its products use conflict minerals violates free speech protections afforded by the First Amendment. Companies now must decide whether to continue efforts begun in some cases years ago to report any use of conflict minerals, either direct or by those in their supply chain, to the US Securities and Exchange Commission ahead of the May 31 deadline instituted by Dodd-Frank.