SEC's Final Ruling of Conflict Minerals Provision of Dodd-Frank
Hosts: From KPMG
Date/Time: Sept. 05, 2012 | 2:00pm ET
The SEC hosted an open meeting and voted to adopt final rules regarding disclosure and reporting obligations with respect to the use of conflict minerals to implement the requirements of Section 1502 of the Dodd-Frank Act.
KPMG's Americas' Regulatory Center of Excellence, and the international law firm of King & Spalding, present a summary of the final requirements, address differences from the proposed rules, outline measures companies are currently taking, and provide KPMG's and King & Spalding's recommended actions for affected companies to meet the requirements.
Publicly traded companies within a variety of industries - electronics and communications, aerospace, automotive, industrial machinery, healthcare devices, jewelry, diversified industrials and consumer goods - that use so-called "conflict minerals" (tin, tantalum, tungsten, and/or gold - also known as 3TG) in their products or manufacturing processes face a new disclosure requirement, as a result of a provision within the Dodd-Frank Act.
The provision has the potential to impact a wide range of functions and processes within affected companies, from finance and legal teams to the supply chain and procurement process to overall corporate sustainability. Because of the widespread use of these minerals, the SEC anticipates the disclosures could affect as many as 6,000 issuers, as well as companies in their supply chains.
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Continuing Professional Education (CPE)
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Continuing Legal Education (CLE)
King & Spalding is an accredited provider of CLE credit in California (Provider #10947), Georgia, New York and Texas, and by application in Virginia. Note to New York barred lawyers: The content of this program is considered both transitional and nontransitional. The webcast format is only approved for experienced lawyers.
KPMG's Americas' Regulatory Center of Excellence (CoE)
KPMG's Americas' Regulatory CoE, based in New York, is made up of key industry practitioners and regulatory advisers from across KPMG's global network who work with clients to distill the impact of regulatory developments on their businesses and advise them on how to adapt their business models to better thrive in this dynamic environment.
As part of the CoE, a team has been formed to focus on the topic of conflict minerals. Review a recent publication and other materials related to conflict minerals. View KPMG's conflict minerals site. Contact the conflict minerals team.
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