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Article

7 Sep 2012

Author:
Laura Richman, Mayer Brown law firm, in Mondaq Business Briefing

United States: US Securities And Exchange Commission Adopts Final Conflict Minerals Disclosure Rule

[T]he US Securities and Exchange Commission adopted the final rule [of the Dodd-Frank Act] regarding disclosure of the use of conflict minerals that originated in the Democratic Republic of the Congo...or an adjoining country...The centerpiece of the final conflict minerals rule is Form SD, a new form created specifically for specialized disclosures...Determining whether, and to what extent, a company is required to make conflict minerals disclosure involves a three-step process. The first step involves an analysis of whether a company is subject to the rule. If so, the second step is to conduct a reasonable country of origin inquiry to determine whether the conflict minerals originated in the DRC or an adjoining country. Depending upon the outcome of that inquiry, the company may be required to proceed to the third step, which involves supply chain due diligence and may require the preparation of a Conflict Minerals Report.