What is SEC conflict minerals rule?
Pursuant to Section 1502 of the Dodd-Frank Act of 2010, the SEC issued its conflict minerals rule in 2012, requiring reporting companies to report on their use and sourcing of tin, tantalum, tungsten and gold (3TG). The conflict minerals reporting template (CMRT) is available to all at no cost.
Is your company required to file an annual conflict minerals disclosure with the SEC?
Under these regulations, publicly traded companies are required to submit an annual conflict minerals disclosure report by filing paperwork called a “Form SD” to the SEC. Whether conflict minerals are found or not, the company must also disclose its findings publicly on its website.
What is a conflict minerals disclosure?
The legislation requires companies that report to the US Securities Exchange Commission (SEC) to disclose if any of the minerals used in their products have been sourced from the Democratic Republic of Congo or any of the adjoining countries, and to describe how they have verified this. …
How are conflict minerals collected?
In the eastern provinces of the country, some mines are accessed exclusively by small-scale miners or armed groups. Production from the sites pass through many parties before export and this opens it up to exploitation by armed forces.
How do you comply with conflict minerals?
A Compliance Roadmap
- Step 1: Determining Whether the Company’s Activities and Products are Covered by the Rule.
- Step 2: Conducting a Reasonable Country of Origin Inquiry and the Form SD Filing.
- Step 3: Due Diligence and the Conflict Minerals Report.
Why are conflict minerals a problem?
Certain minerals (including tin, tantalum, tungsten and gold) have been linked with funding killings, violence, rape, and other human rights abuses in the Democratic Republic of Congo and other conflict zones.
What is conflict minerals reporting Template?
The Conflict Minerals Reporting Template (CMRT) is a free, standardized reporting template developed by the Responsible Minerals Initiative (RMI) that facilitates the transfer of information through the supply chain regarding mineral country of origin and the smelters and refiners being utilized.