[Very good summary--Ed.] The Securities and Exchange Commission recently adopted final disclosure and reporting rules as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act requiring certain public companies to disclose on a new Form SD their use of conflict minerals originating in the Democratic Republic of the Congo (the DRC) or an … Continue reading
The Final Rules differ from the proposed rules in the following significant ways: The Final Rules exclude conflict minerals that come from recycled or scrap sources, that is, minerals that are derived from metals that come from reclaimed end-user or post-consumer products, or scrap-processed metals created during product manufacturing. The Final Rules exclude conflict minerals … Continue reading
Excerpt from brief by SR&Z. Action Items There are a number of near-term action items that registrants should consider as they gear up for compliance with the conflict minerals rule: 1. Create an internal conflict minerals compliance team. For most registrants, the internal team will consist, at a minimum, of representatives from manufacturing, engineering, procurement, … Continue reading
I attended an invitation-only event today at the offices of Schulte Roth & Zabel on the topic of conflict minerals compliance. Speaking were Michael Littenberg of the Schulte Roth law firm and Kevin Hyams and Peter Manzetti of accounting, audit and assurance firm Friedman LLP. In attendance were about 12-15 corporate executives. I assume they represented their companies’ compliance departments … Continue reading
I like this flow chart that describes the due diligence requirements enumerated in Section 1502:
By Michael Littenberg, Farzad Damania and Joseph Valane, Schulte Roth & Zabel LLP This Note offers guidance on the due diligence required by the Securities and Exchange Commission’s (SEC) proposed rules implementing Section 1502 of the Dodd-Frank Act, the conflict minerals provision. It lists and discusses resources that may assist companies with conflict minerals due … Continue reading
Table of Contents SRZ Authored Resources SEC Resources State Department and Other U.S. Government Resources OECD Resources Industry Group Resources Selected Form Documents NGO Resources (View SRZ Resource Center.)
by Jill Radloff The OECD recently issued a report the objective of which was to establish a baseline of current due-diligence practices of downstream companies, meaning the smelter to the final product. A separate report was issued on “upstream companies,” meaning the mine to smelter supply chain which is not discussed here. It is anticipated … Continue reading
Another overview by a law firm covering: Why Is The SEC Doing This? What Products Are Covered By The Rule? What Companies Are Covered By The Rule And What Must They Do? What Will The Rule Cost Manufacturers? When Will The Rule Be Final? What Issues Remain To Be Resolved? (Excerted here): The SEC’s current … Continue reading
This Advisory explains Dodd-Frank’s conflict mineral provision, the SEC’s difficulty in implementing that provision, the OECD’s related due diligence guidelines, and the prospect of regulatory activity on multiple new fronts. (Read full advisory.)
