by Gary Larkin
By now you've most likely heard of the conflict minerals
disclosure section in the voluminous Dodd-Frank Wall Street Reform and Consumer
Protection Act. For those companies who might be affected by the new proposed
SEC regulations, it's officially time to start planning for implementation.
I issue this warning based on the fact the SEC is now six
months behind schedule on issuing a final rule and the fact the agency has
scheduled a roundtable on the topic Oct. 18 from 12:30 p.m.-5:15 p.m. at its
Washington, D.C. headquarters. According to an SEC statement issued last week,
the roundtable is designed to be a forum for various stakeholders to discuss
appropriate reporting approaches for the final rule, challenges in tracking
conflict minerals through the supply chain, and workable due diligence.
"We are committed to writing an effective rule as soon as
possible, and the roundtable will help us do that," said Meredith Cross,
director of the SEC's Division of Corporation Finance.
Here's a short primer on the conflict minerals rule, as
it is written now: (the SEC is hoping to make the rule effective by January
Read the rest of this article on the Governance Center Blog
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