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Article

30 Aug 2011

Author:
Womble Carlyle

Recent ruling provides roadmap for potential Dodd-Frank challenges

Last month’s ruling by the U.S. Court of Appeals for the District of Columbia Circuit (the “Court”) in the closely watched case of Business Roundtable v. SEC not only overturned the landmark Securities and Exchange Commission (the “SEC”) shareholder proxy access rule, but also created a potential roadmap for businesses and industry groups seeking to challenge many other rules to be issued by the SEC and other federal regulators under the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”)...Observers believe that controversial rules such as the new or pending SEC conflict minerals disclosure rules, compensation disclosure rules and whistleblower rules may be particularly vulnerable to a challenge along the same lines...