The National Association of Manufacturers and the U.S. Chamber of Commerce have filed a Petition for Review requesting that the SEC’s Conflict Minerals Rule be modified or set aside. The Petition for Review and the Scheduling Order specifying near-term document submission dates by the petitioners and respondent both were made publicly available today and are now available on SRZ’s online Conflict Minerals Resource Center.
The challenge to the Conflict Minerals Rule was not unexpected. Both NAM and the Chamber previously indicated that they might challenge the Rule. In addition, the successful challenge of mandatory proxy access and, more recently, the CFTC’s position limits rule, the dissents of Commissioners Gallagher and Paredes in connection with the adoption of the Conflict Minerals Rule and the recent challenge of the new resource extraction disclosure rule all contributed to speculation that a challenge to the Conflict Minerals Rule was in the offing.