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- Title
THE UNSETTLED STATE OF COMPELLED CORPORATE DISCLOSURE REGULATION AFTER THE CONFLICT MINERAL RULE CASES.
- Authors
Taylor, Celia R.
- Abstract
There has long been debate about the use of regulation to compel corporate disclosure about environment and social issues--often referred to as matters relating to corporate social responsibility. Those who oppose mandatory reporting of CSR issues may now have a powerful new tool in their arsenal due to the outcome of legal struggles over the conflict minerals rule--a rule requiring companies to make particular disclosures if their products used certain minerals mined in the Democratic Republic of Congo. After a protracted battle, the Court of Appeals for the District of Columbia Circuit upheld parts of the rule but, importantly, struck down on First Amendment grounds the portion of the rule that required companies to label their products as "not found to be DRC conflict free.". The decision has important implications for compelled corporate disclosure regulation. It leaves uncertain what standard of review should apply to compelled commercial speech. If the view of the court in the conflict minerals case were widely adopted, many compelled disclosure regulations would be subject to greater scrutiny and thus greater likelihood of being found unconstitutional. This work will use the conflict minerals rule cases as a lens to consider the unsettled state of compelled corporate disclosure regulation and the implications of the uncertainty on the use of such disclosure in the corporate social responsibility arena.
- Subjects
UNITED States; CONGO (Democratic Republic); CONFLICT resources (Natural resources); SOCIAL responsibility of business; DISCLOSURE laws; MINES &; mineral resources; GOVERNMENT regulation; BUSINESS enterprises &; the environment; DODD-Frank Wall Street Reform &; Consumer Protection Act; UNITED States. Securities &; Exchange Commission; SOCIAL responsibility of business -- Law &; legislation; LAW; ACTIONS &; defenses (Law)
- Publication
Lewis & Clark Law Review, 2017, Vol 21, Issue 2, p427
- ISSN
1557-6582
- Publication type
Article