Tuesday, 23 April 2013

Are U.S Companies Prepared for Conflict Minerals Reporting?

On August 22 2012, the U.S Securities and Exchange Commission (SEC) voted in favour of a Final Conflict Minerals Regulation.

The final rule requires publicly traded companies in the U.S to annually disclose information on the source of conflict minerals contained within their products and whether any of these minerals originated in the Democratic Republic of the Congo. These minerals include tantalum, tin, gold and tungsten.

EBN report that out of 134 electronics industry managers who attended a recent IHS webinar discussing the regulation, only 7.5% said they were well-prepared for compliance.

Companies must disclose conflict minerals information on a calendar year basis, January 1 - December 31, and the information must be provided using a new form called From SD. This form must be filed by May 31 2014 with information from calendar year 2013.

To find out more information please visit the IPC website who have put together a useful summary of the final rule. 

No comments:

Post a Comment