DC Circuit Dismisses API Challenge To Transparency Rules

Agreeing with the argument presented by our client Oxfam America, Inc., the D.C. Circuit today dismissed the American Petroleum Institute’s (API) Petition for Review challenging a key provision of Dodd-Frank that requires publicly traded oil and gas companies to disclose their payments to governments.  API argued the regulation was overly burdensome and violated the companies’ First Amendment rights, but the Court agreed with us that it lacks jurisdiction to hear the case, which must be presented first in the district court.  Today’s opinion is here.