Directive Decoder

Over 800 pages into the US Consumer Protection Act (the Act), signed into law by President Obama on 21 July 2010, section 1502 lays the foundations for US Securities and Exchange Commission (SEC) registered companies being required to make "Disclosures relating to Conflict minerals originating in the Democratic Republic of the Congo" (DRC).

This will identify those products manufactured by a company that can be proved "DRC Conflict-Free" or otherwise.

The Securities and Exchange Commission (SEC) has announced a public consultation, running until the end of January around the proposed rule implementing annual reporting requirements regarding conflict minerals in manufactured products.

These are required under Section 1502 of the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Concern was raised some years ago in the USA regarding the ethics of using materials sourced from the Democratic Republic of the Congo (DRC) in the USA, particularly in the electronics manufacturing sector. The reason behind the concern was that the sale of this material by armed militias was funding the civil war in the region, leading to exploitation of, and the use of violence against the local population. In April 2009, a Congo Conflict Minerals Act was introduced in the USA, to require electronics companies to verify and disclose their sources, but this legislation died in committee.

In the aftermath of the Enron and other financial scandals in the USA, a major amendment to the Securities Exchange act of 1934 was formulated. This new law, the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, was passed by the US Senate on 20 May 2010. Section 1502, generally referred to as the "Conflict Mineral Law", requires US companies to disclose the source of certain minerals in their product. The original 1934 act has been amended to include this text.

So how will these impact US businesses and those in Europe?

Follow the link for an exclusive update:

Conflict Minerals

Directive Decoder

If RoHS CE is the big topic in town the UK is starting to consider the possible implications of Dodd-Frank otherwise known as Conflict Minerals.

While it is not clear what to consider yet there are noises from the US that there will be more detail published before the end of the year.

This will run and run and business will have to decide whether to concentrate its limited resources on RoHS CE Mark or Conflict Minerals or try and tackle both at the same time.

With China RoHS finally showing signs of life 2012 could be the year of data collection or spending an absolute fortune on so called third party options.

Conflict Minerals

Directive Decoder

The U.S. Securities & Exchange Commission (SEC) is the organisation that will issue the final Conflict Minerals rule. The SEC has decided to hold a public round table meeting on October 18 with concerned parties to further discuss the proposed rule before taking action.

The Conflict Minerals rule is proving contentious and opponents are threatening lawsuits if their concerns are not addressed. The SEC feels a round table with concerned parties at this time is appropriate and will help them in finalizing their rule. 

 I will review the round table and blog on what transpires but don't you just start to get a feeling about all of this!?

Conflict Minerals Summary

Directive Decoder

The US Securities & Exchange Commission (SEC) held a public roundtable meeting on October 18 to allow affected parties to exchange views and provide input before they finalise their conflict minerals rule.

Representatives from the investment community, industry, consulting and NGOs participated. Major industry participants included AMD, Boeing, Ernst & Young, Kraft Foods and TE Connectivity.

Summary of conflict mineral roundtable

Directive Decoder