---
title: US Appellate Court Finds SEC's Conflict Minerals Reporting Requirement Violates Free Speech
description: US Appellate Court Finds SEC's Conflict Minerals Reporting Requirement Violates Free Speech
image: https://go.adherent.com/hubfs/Imported_Blog_Media/Conflict-Minerals-Regulations3.jpg
---

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# US Appellate Court Finds SEC's Conflict Minerals Reporting Requirement Violates Free Speech

---

##### 15 April 2014

![Conflict Minerals Regulations](https://go.adherent.com/hs-fs/hubfs/Imported_Blog_Media/Conflict-Minerals-Regulations3.jpg?width=128&height=116&name=Conflict-Minerals-Regulations3.jpg "Conflict Minerals Regulations")A US appeals court has issued an opinion striking part of the Securities and Exchange Commission (SEC) conflict minerals reporting regulation requiring public companies to disclose products containing conflict minerals, holding that part of the requirement violates free speech rights.

The SEC requires a publicly traded corporate manufacturer to disclose products that are "not DRC Conflict Free" if they contain tantalum, tin, gold or tungsten that originate from the Democratic Republic of Congo.  The Plaintiff/Appellant National Association of Manufacturers challenged that requirement on the grounds that it unconstitutionally compels speech.

On appeal from the District Court, the Court of Appeals held that the statute and the SEC’s final rule violate the First Amendment to the extent they require regulated entities to report to the Commission and to state on their website that any of their products have “not been found to be ‘DRC conflict free.’”

The case, National Manufacturers Association vs. Securities and Exchange Commission No. 13-5252, returns to the District court for further proceedings consistent with the Appellate Court's April 14 opinion.

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