Court upholds controversial Dodd-Frank rule

A regulator that has seen some of its Dodd-Frank rules vacated in federal court scored a legal victory. Three trade groups challenged a Securities and Exchange Commission rule related to conflict minerals, arguing that the SEC’s rulemaking was arbitrary and capricious and that the final rule compels speech in violation of the First Amendment. The U.S. District Court for the District of Columbia upheld the rulemaking. Read on for the court’s reasoning.