SEC Roundtable to Take on Conflict Mineral Rules
WASHINGTON, DC -- The US Securities and Exchange Commission next month will host a public meeting to discuss the looming "conflict metals" law.
The Oct. 18 roundtable will cover implementation of the new regulations, which require companies to disclosure products that may contain conflict minerals from the Democratic Republic of the Congo and nearby countries. The term "conflict metals" refers to precious ores such as columbite-tantalite, gold and wolframite that are mined, often by children under duress, and sold to support an ongoing civil war responsible for the death of millions.
Congressional legislation last year mandated US companies report any purchases or use of conflict minerals, and put the SEC in charge of writing,implementing and enforcing the rule.
The roundtable will provide a forum for various stakeholders to exchange views and provide input on issues related to the SEC’s required rulemakingP. anel discussions will focus on key regulatory issues such as appropriate reporting approaches for the final rule, challenges in tracking conflict minerals through the supply chain, and workable due diligence and other requirements related to the rulemaking.
“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.
The roundtable will be held at SEC headquarters in Washington and is open to the public, and will be webcast live on SEC's website.
