SEC Adopts Final Rules on Conflict Minerals Reporting

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The Securities and Exchange Commission (SEC) issued final conflict minerals reporting rules on August 22, 2012. These rules have significant implications for public companies across many industries and are likely to result in substantial compliance costs. This advisory summarizes the final rules and suggests actions that reporting companies should take to ensure timely compliance.

On August 22, 2012, the SEC released final rules for disclosure and reporting regarding the use of conflict minerals from the Democratic Republic of Congo and adjoining countries, which we refer to collectively as DRC, as mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The rules are intended to prompt reporting companies to examine supply chains for conflict minerals and limit use of conflict minerals originating from the DRC.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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