AMERICAN PETROLEUM INSTITUTE v. S.E.C.

No. 12-1398.

714 F.3d 1329 (2013)

AMERICAN PETROLEUM INSTITUTE, et al., Petitioners, v. SECURITIES AND EXCHANGE COMMISSION, Respondent. Oxfam America, Intervenor.

United States Court of Appeals, District of Columbia Circuit.

Decided April 26, 2013.


Attorney(s) appearing for the Case

Eugene Scalia argued the cause for petitioners. With him on the briefs were Thomas M. Johnson, Jr. , Robin S. Conrad , Rachel Brand , Harry M. Ng , and Peter C. Tolsdorf .

William K. Shirey , Senior Litigation Counsel, Securities and Exchange Commission, argued the cause for respondent. With him on the brief were Michael A. Conley , Deputy General Counsel, and Theodore J. Weiman , Attorney. Mark Pennington , Assistant General Counsel, entered an appearance.

Jonathan G. Kaufman , Marco Simons , and Howard M. Crystal were on the brief for intervenor Oxfam America, Inc., in support of respondent.

Dennis M. Kelleher and Stephen W. Hall were on the brief for amicus curiae Better Markets, Inc. in support of respondent.

Lauren Carasik and Eric L. Lewis were on the brief for amici curiae United States Senators Benjamin Cardin, et al. in support of respondent.

Jeffrey W. Mikoni was on the brief for amici curiae Representatives Edward J. Markey, et al. in support of respondent.

Opinion for the Court filed by Circuit Judge TATEL.


TATEL, Circuit Judge:

Pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act, Pub. L. No. 111-203, 124 Stat. 1376 (2010), the Securities and Exchange Commission promulgated a rule requiring certain companies to disclose payments made to foreign governments relating to the commercial development of oil, natural gas, or minerals. Petitioners challenge the statute and the regulation, raising both constitutional and statutory claims. "[O]ut of an abundance...

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