SEC Adopts Rule For Disclosing Use Of Conflict Minerals

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The Securities and Exchange Commission (SEC) recently adopted a rule pursuant to Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) requiring certain issuers to publicly disclose their use of “conflict minerals” that originate in the Democratic Republic of the Congo (DRC) or an adjoining country.

Congress enacted Section 1502 of the Dodd-Frank Act because of concerns that the exploitation and trade of conflict minerals by armed groups helps to finance conflict in the DRC region and contributes to an emergency humanitarian crisis. Section 1502 of the Dodd-Frank Act amends the Securities Exchange Act of 1934 (Exchange Act) by adding a new section, Section 13(p).

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Published In: Administrative Agency Updates, Business Organization Updates, General Business Updates, International Trade Updates, Securities Updates

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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