Saturday, December 22, 2012

SEC issued "Conflict Minerals" Rule This Year

Not much remarked in the media,but potentially very important, the rule was released in August:

SEC Adopts Rule for Disclosing Use of Conflict Minerals


Video: Open Meeting
Play video of SEC Chairman Schapiro discussing the final rule
Chairman Schapiro discusses the final rule:
Windows Media Player

Text of
Chairman's statement
Washington, D.C., Aug. 22, 2012 — The Securities and Exchange Commission today adopted a rule mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act to require companies to publicly disclose their use of conflict minerals that originated in the Democratic Republic of the Congo (DRC) or an adjoining country.
The regulatory reform law directed the Commission to issue rules requiring certain companies to disclose their use of conflict minerals that include tantalum, tin, gold, or tungsten if those minerals are “necessary to the functionality or production of a product” manufactured by those companies. Companies are required to provide this disclosure on a new form to be filed with the SEC called Form SD.

Text of the final rule:

Why does this matter?  Check out this movie:

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