News & Analysis as of

Disclosure Requirements Securities & Exchange Commission Conflict Mineral Rules

US House of Representatives Approves the Financial Choice Act

On June 8, the U.S. House of Representatives voted to approve the Financial CHOICE Act (FCA) primarily along party lines, 233-186. The FCA was introduced by Rep. Jeb Hensarling of Texas, and co-sponsored by 40 of his...more

Recent Developments with Respect to Conflict Minerals

by Snell & Wilmer on

In the Spring 2017 issue of our Corporate Communicator, we included a brief discussion of the status of the conflict minerals rules contained in Rule 13p-1 of the Securities Exchange Act of 1934, as amended (the “Exchange...more

Conflict Minerals Disclosure New SEC Guidance

by BakerHostetler on

On April 7, 2017, the Securities and Exchange Commission ("SEC") Division of Corporate Finance (the "Division") indicated that it will not recommend enforcement of the conflict minerals source and chain of custody due...more

GAO Reports on 2015 Conflict Minerals Form SDs

GAO released an analysis of a generalizable sample of conflict minerals disclosures filed with SEC in 2015. The analysis found that an estimated 49 percent of companies in 2015 reported having determined whether the conflict...more

In Case You Missed It - Interesting Items for Corporate Counsel - April 2017

by Stoel Rives LLP on

A host of things happened in the last few months regarding Conflict Minerals, although likely not much that will affect what a public company reports on its Form SD, due May 31. (Spoiler alert: The same thing companies have...more

Conflict Minerals Update – SEC Releases Guidance Following District Court Decision

by White & Case LLP on

On April 3, 2017, the US District Court for the District of Columbia (the "Court") entered a final judgment in National Association of Manufacturers, et al. v. Securities and Exchange Commission,1 ruling that Section 1502 of...more

SEC’s Division of Corporate Finance Issues Statement on Conflict Minerals Disclosure Requirements

Ruling & Enforcement: Conflict Minerals’ Disclosure - On April 3, 2017, the U.S. District Court for the District of Columbia entered a final judgment in favor of the National Association of Manufacturers, declaring that...more

SEC Will Not Enforce Part of the Conflict Minerals Disclosure Rule

by Bracewell LLP on

On Friday, April 7, 2017, the acting Chief of the Securities and Exchange Commission (the “Commission”) Michael Piwowar released a statement that the Commission will not recommend enforcement of certain parts of its Conflict...more

Conflict Minerals - What Just Happened and What Didn’t

The conflict minerals saga continues. Background - In April 2014, the Court of Appeals for the D.C. Circuit in National Association of Manufacturers v. SEC held that the conflict minerals rule’s requirement that...more

SEC Provides Additional Relief for Conflict Minerals Disclosures: What Should Covered Public Companies File on May 31st?

by Locke Lord LLP on

On April 7, 2017, the Division of Corporation Finance of the Securities and Exchange Commission (the “Commission”) issued a statement on the effect of the recent court decisions in National Association of Manufacturers v. SEC...more

New Developments and Uncertainties for Conflict Minerals Disclosure

by Beveridge & Diamond PC on

The Securities and Exchange Commission (SEC or Commission) Division of Corporate Finance issued a new statement adding some uncertainty to company obligations and enforcement exposure under the SEC conflict minerals rule...more

SEC Staff Issues New Guidance on Conflict Minerals Rule for 2017 Filings

by Bryan Cave on

Late Friday, April 7, the SEC issued two statements relating to the conflict minerals rule which reflect a significant change in the staff’s guidance for public companies. The upshot of these statements is that the staff...more

Conflict Minerals Rule is Still in Effect – For Now

by Locke Lord LLP on

On April 3, 2017, the D.C. District Court entered its final judgment in National Association of Manufacturers v. SEC holding that Section 1502 of Dodd-Frank and the SEC’s conflict minerals rule, Rule 13p-1 and Form SD...more

Court Enters Final Judgment in Conflict Minerals Case

The United States District Court for the District of Columbia has entered a final judgment in the conflict minerals case. The final judgment is identical to the proposed judgment which we described previously....more

Proposed Judgment in Conflict Minerals Case

Pursuant to a court order, the parties to the conflict minerals case have filed a proposed judgment after they advised the court no further proceedings were necessary. The text of the proposed judgment is as follows...more

Blog: Say Farewell To The Conflict Minerals Case, Nat’l Ass’n Of Mfrs. V. SEC

by Cooley LLP on

The parties to the conflict minerals case have filed in the D.C. District Court a “Joint Status Report,” which requests that the Court enter a final judgment in accordance with the decision of the Court of Appeals. As a...more

Parties Request Judgment be Entered in Conflict Minerals Case

The conflict minerals case was remanded to the United Stated District Court for the District of Columbia for further proceedings. Judge Jackson ordered the parties to file a joint status report indicating whether any further...more

Recent Regulatory Developments and the New US Presidential Administration's Actions Affecting Public Companies

by White & Case LLP on

There have been several recent developments and proposed initiatives related to deregulation impacting US public companies and foreign private issuers ("FPIs"). Below is a brief summary of regulatory changes that have been...more

Conflict Minerals Rule and Pay Ratio Rule… Are Changes Forthcoming?

by Blank Rome LLP on

Conflict Minerals Rule - Acting SEC Chairman Michael S. Piwowar issued a statement on January 31, 2017 directing the SEC staff to reconsider whether the 2014 Guidance is still appropriate and whether any additional...more

Blog: For The Avoidance Of Doubt, Acting Corp Fin Director Confirms Conflict Minerals And Pay-Ratio Disclosure Rules Still In...

by Cooley LLP on

As reported by the WSJ, at the SEC Speaks conference today, to avoid any doubt on the matter, Acting Corp Fin Director Shelley Parratt reminded companies that, notwithstanding the two requests for public comment issued by...more

Judge Orders Status Report in Conflict Minerals Case

The conflict minerals case was remanded to the United Stated District Court for the District of Columbia for further proceedings. Judge Jackson has ordered the parties to file a joint status report, on or before March 10,...more

Blog: Will The SEC Be Instructed To Waive Any Or All Of The Conflict Minerals Requirements On The Basis Of National Security...

by Cooley LLP on

Remember all the way back to last week when Acting SEC Chair Michael Piwowar issued two statements on the conflict minerals rules? Remember too that the first statement directed the staff to revisit the 2014 guidance from...more

Changing of the Guard: SEC Reconsiders Conflict Minerals Rule While Congress Votes to Overturn ‘Publish What You Pay’ Reporting...

by Shearman & Sterling LLP on

In the wake of the US elections in November 2016, two of the Securities and Exchange Commission’s (“SEC”) disclosure rules for public reporting companies — the conflict minerals rule and government payments reporting for...more

More Conflict Minerals Drama

Well, it wouldn’t be February without a “helpful” reminder that Form SD filings are due on May 31st and a new development that casts confusion over the process. This year, the confusion comes in the form of last week’s...more

"SEC Acting Chairman Directs Reconsideration of Conflict Minerals Rule"

The acting chairman of the U.S. Securities and Exchange Commission (SEC), Michael S. Piwowar, recently released two public statements concerning the conflict minerals rule applicable to companies that file Exchange Act...more

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