March 11, 2013｜Written by GreenSoft Technology, Inc.
The National Association of Manufacturers (NAM), the U.S. Chamber of Commerce and other groups filed suit against the SEC in January. The suit argued that the regulation is too costly, burdonsome, inconsistent with congressional intent, and ultimately that they are unconstitutional because they compel companies to disclose information in violation of the First Amendment. The D.C. Circuit Court is scheduled to hear the case on May 15, 2013. The Manufacturers Alliance for Productivity and Innovation (MAPI) has posted a helpful summary of the SEC’s response. MAPI’s conclusion:Companies should continue to prepare for the rule’s full implementation in order to file a first report by the deadline of May 31, 2014.