Title

SEC Adopts Final Conflict Minerals Rules with Notable Changes
Client Newsflash

Created date

8/22/2012
The SEC voted today to implement the Dodd-Frank Act’s reporting requirements relating to “conflict minerals” – cassiterite, columbite-tantalite, gold, wolframite and other minerals determined by the U.S. government to be financing conflict in the Democratic Republic of Congo or adjoining countries, referred to as the “DRC countries” or “covered countries.” Companies must comply with the final rules for the calendar year beginning January 1, 2013 with the first reports due May 31, 2014. The final rules adopted today contain substantial changes from the SEC’s original proposal in December 2010. This memo summarizes the changes highlighted at today’s open meeting. The SEC voted today to implement the Dodd-Frank Act’s reporting requirements relating to “conflict minerals” – cassiterite, columbite-tantalite, gold, wolframite and other minerals determined by the U.S. government to be financing conflict in the Democratic Republic of Congo or adjoining countries, referred to as the “DRC countries” or “covered countries.” Companies must comply with the final rules for the calendar year beginning January 1, 2013 with the first reports due May 31, 2014. The final rules adopted today contain substantial changes from the SEC’s original proposal in December 2010. Please follow this link for a summary of the changes highlighted at today’s open meeting.