Section 1502 of the Dodd-Frank Act expresses the sense of Congress that the
exploitation and trade of "conflict minerals" originating from the Congo region
is helping to finance human rights abuse. In August 2012, the SEC issued
final conflict mineral rules and estimates that approximately 6,000 public
companies will need to make a filing with the SEC in 2014 regarding conflict
mineral activity in 2013. If any conflict minerals – tin, tantalum, tungsten and
gold (3 T’s and a G) – are necessary to the functionality or production of
products manufactured or contracted to be manufactured by a public company, the
company is required to make a filing on Form SD, regardless of the origin of the
metals or how de minimis the amounts.
The rules recently survived a challenge in federal district court, and
issuers and their counsel who haven't begun to take the steps to satisfy these
rules – or even to learn about them – may be in for a shock.
Join us for a discussion of the rules and tips on how to assist your clients
in preparing to meet them. Our discussion will be led by James R. Burke, a
partner at Hinckley, Allen & Snyder LLP, who has written and spoken widely
on conflict minerals.