Global Witness strongly disagrees with...DC District Court decision to vacate the implementing rules for Section 1504 of the Dodd-Frank Act...Though Section 1504 remains law, the US Securities and Exchange Commission (SEC) will now have to review the most effective way of implementing the law...The court determined that the SEC did not adequately justify its rejection of industry demands for an exemption from disclosure...But the...industry failed to provide a shred of credible evidence to demonstrate the existence of any laws banning disclosure in any country...On a positive note, the judgement allows for the rules to be reconsidered and re-stated by the SEC. We fully expect the SEC will re-issue them, providing a stronger justification for the points in contention. We also note that nothing in the judgement blocks the SEC from requiring public reporting, and neither does it require the SEC to provide exemptions from reporting. [refers to Shell, BP, Chevron, Exxon]