New Guide Helps Navigate SEC Conflict Minerals Rule PDF Print E-mail
Written by Mike Buetow   
Wednesday, 12 September 2012 10:02

BANNOCKBURN, IL — IPC has released a guide to help manufacturers manage compliance with the new US SEC's conflict minerals regulations.

The 356-page SEC rule was finalized earlier this year.

“Summary of the Final SEC Rules on Conflict Minerals,” a 7-page document downloadable as a PDF, highlights of the summary include a simplified explanation of the compliance process: 1) A company must determine whether it is subject to conflict minerals requirements; 2) If yes, the company must conduct a reasonable country of origin inquiry to determine if the “necessary conflict minerals” used originated in the covered countries or are from recycled or scrap materials; and 3) If a company determines, or has reason to believe, that the conflict minerals originated in the covered countries and are not, or may not be, from recycled scrap sources, it must exercise due diligence on the source and chain of custody of conflict minerals and may need to provide a conflict minerals report (CMR).

Additional points include information on “phase-in” period implementation, audit standards and objectives, definitions of terms, conflict minerals report content and disclosure requirements.

A IPC task group expects to publish a due diligence guideline document later this year. Said Joel Sherman, co-chair of the committee working on the guideline, “The document is intended to provide industry guidance within a flexible framework that companies may use to establish an effective conflict minerals due diligence program. We’re earnestly working to get the guideline out in November.”

 

 

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