Tag: conflict minerals

Undo Dodd-Frank?

by Cydney Posner With Congress and the Presidency soon in Republican control, look for the Financial CHOICE Act (or perhaps an enhanced version) to be re-introduced in the next Congress.  The bill, sponsored by Jeb Hensarling, Chair of the House Financial Services Committee, was framed as a Republican proposal to […]

Corp Fin Deputy Director comments on conflict minerals compliance

by Cydney Posner In remarks at the PLI Securities Regulation Institute yesterday, Corp Fin Deputy Director (Disclosure Operations) Shelley Parratt confirmed, as we all suspected, that it’s status quo on conflict minerals reporting again this year: the April 2014  statement by the Director of Corp Fin continues to be operative. (See […]

GAO issues second annual conflict minerals report

by Cydney Posner The GAO has issued its annual conflict minerals report to Congress, entitled  “Companies Face Continuing Challenges in Determining Whether Their Conflict Minerals Benefit Armed Groups.” The GAO is required to report annually on the effectiveness of the SEC’s conflict minerals rule in promoting peace and security in […]

Consultants report on conflict minerals due diligence and disclosure for 2015. But has it made a difference for the DRC?

by Cydney Posner Two consulting firms, Assent Compliance and Source Intelligence, have published their studies on conflict minerals (tin, tantalum, tungsten and gold) reporting for 2015, the third year of required SEC reporting.  For 2015, there were slightly over 1,200 filers, representing a decrease of about 50 filers from the […]

House votes to “defund” disfavored SEC rules, potential rules and guidance

by Cydney Posner On Friday, the House passed H.R. 5485, the Financial Services and General Government Appropriations Act for fiscal year 2017, which includes appropriations for the SEC.  As noted here and here, included as part of the bill were several amendments directed at defunding SEC rules, potential rules and […]

Discussion Draft of the Financial CHOICE Act

by Cydney Posner A discussion draft for the Financial CHOICE Act is now publicly available.  Many of the provisions of interest from a corporate standpoint are in Title  IV—Capital Markets Improvements and Title X—Unleashing Opportunities for Small Business, Innovators, and Job Creators by Facilitating Capital Formation. (It doesn’t exactly unleash […]

EU reaches understanding on conflict minerals framework

by Cydney Posner According to Euranet Plus News Agency, the “EU has reached a preliminary deal to curb the trade in minerals from war zones and corrupt regimes. The rules will force companies that mine, refine or import ‘conflict minerals’ and metals into the EU to audit the suppliers they […]

The Financial CHOICE Act would dismantle a whole lot more in Dodd-Frank than just financial regulation

by Cydney Posner There has been a fair amount of press regarding the Financial CHOICE Act, a new bill sponsored by Jeb Hensarling, Chair of the House Financial Services Committee. The actual bill has not yet been released, but an executive summary is available.  Most of the press attention has […]

OECD issues New Edition of OECD Due Diligence Guidance on conflict minerals and declassifies Report on Implementation of Guidance

by Cydney Posner Just in time for those Forms SD and conflict minerals reports, due May 31, the OECD has posted a new  edition of the OECD Due Diligence Guidance for Responsible Supply Chains of Minerals from Conflict-Affected and High-Risk Areas, Third Edition. The third edition states that it “provides […]

No petition for cert in Natl Assoc. of Manufacturers v. SEC, the conflict minerals case

by Cydney Posner No reason to keep checking the SCOTUS website for the SEC’s cert petition in Natl Assoc. of Manufacturers v. SEC, the conflict minerals case. According to this letter from Attorney General Loretta Lynch to House Speaker Paul Ryan (courtesy of thecorporatecounsel.net blog), “[a]lthough the Commission defended the constitutionality of […]