President Trump Signs Legislation to Nullify SEC Resource Extraction Rule
President Trump signed a joint resolution (H.J. Res. 41) to nullify an SEC final rule regarding the disclosure of payments by resource extraction issuers. (See previous Cabinet coverage of the passage of the joint resolution in the House and the Senate). The action was taken pursuant to the Congressional Review Act.
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The Senate passed a joint resolution to nullify an SEC final rule on the disclosure of payments by resource extraction issuers.
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By a vote of 235 to 197, the House of Representatives passed a resolution to nullify the SEC final rule regarding the disclosure of payments by resource extraction issuers.
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SEC Acting Chair Michael S. Piwowar directed Commission staff to reconsider the appropriateness of the 2014 guidance on the SEC Conflict Minerals Rule in light of (i) the expiration of the temporary transition period provided for in the Rule, and (ii) ongoing litigation concerning a Court of Appeals' determination that portions of the rule violated the First Amendment.
