Dodd-Frank Wall Street Reform & Protection Act: Defended by SEC
For the second time the regulations put forth in the Dodd-Frank Wall Street Reform and Consumer Protection Act are being challenged. This time a business consortium brought the SEC before the DC Circuit court where 3 judges heard arguments from Peter Keisler from the business coalition and Tracey Hardin from the SEC. Section 1502 of the Dodd-Frank Act compels public disclosure for any issuer whose products are identified as containing one or more of the four conflict minerals (tin, tantalum, tungsten and gold) suspected to have originated in the Democratic Republic of Congo (DRC) and surrounding countries.
With the first reports and disclosures due to be filed with the SEC by June 2, 2014, the pressure is on companies to implement the correct program for them. It is also important for them to keep an eye on the hearing to know if the rule will be changed and if so, how it will affect their program. The business coalition is arguing that the rule can impose a massive cost and shame the company in the eyes of investors. The SEC reiterated to the judges that objective of Section 1502 is to promote peace and security in the DRC. It is to increase the public awareness of the use of conflict minerals.
In response to requests for a single source "news alert" on key events like this, in the areas of supply chain and regulated materials compliance, Source Intelligence is pleased to introduce "From The Source," a direct mail and web-based newsletter written to keep you informed at a glance.
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Stakeholders in the ecosystem of supply chain and regulated materials compliance will be surprised to see the similarities and differences of program progress and supplier profiles across industries.
This benchmarking study will present ACTUAL data, aggregated by industry, to provide insights on:
-Conflict mineral programs in 2013
-Progress to completion of data collection over time
-Incidences of 3TG in the supply chain
-Supplier profiles (by industry and region)
-Challenges incurred in completing the process
-Hurdles of data verification
This report will be preceded by a February 27th webinar. In order to receive an early copy of the benchmarking report, register HERE for the webinar now.