As mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the US Securities and Exchange Commission has adopted a rule regarding disclosure of the use of conflict minerals originating from the Democratic Republic of the Congo (DRC) or an adjoining country. Conflict minerals include columbite-tantalite (coltan), cassiterite, gold and wolframite, including their more well-known derivatives—tantalum, tin and tungsten. The centerpiece of the final conflict minerals rule is Form SD, a new form created specifically for specialized disclosures. Form SD will be due by May 31 of each year, commencing May 31, 2014 with respect to the 2013 fiscal year.
Please join us as we discuss how to determine whether, and to what extent, a company is required to make conflict minerals disclosure. The steps include:
- An analysis of whether a company is subject to the rule;
- A reasonable country-of-origin inquiry; and
- A supply chain due diligence and possible preparation of a Conflict Minerals Report.
We will highlight key questions such as:
- What constitutes contracting to manufacture;
- Whether a conflict mineral is “necessary to the functionality” of a product;
- Whether a conflict mineral is “necessary to the production” of a product;
- What constitutes a reasonable of country origin inquiry;
- What is supply chain due diligence;
- When is a Form SD required; and
- When is a Conflict Minerals Report needed.
The presentation will include an update on the litigation challenging the SEC’s conflict minerals rule as well as practical considerations regarding compliance with this new rule.
Instructions for accessing the program will be sent prior to the event.
For additional information, please contact Bob Kelley at firstname.lastname@example.org or +1 312 701 8123.
Mayer Brown’s Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm’s global resources from multiple practices and offices, the initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.