Last week, the SEC formally voted and approved the rule requiring companies to disclose the use of “Conflict Minerals” in the manufacturing of their products. The Conflict Minerals rule was a part of the Dodd-Frank Act, but controversy around the true cost of compliance and the best way to move forward has delayed a final ruling until now.
A number of small concessions in the final ruling have been made – including the ability for a company to report their products as “conflict undeterminable” (for a limited period of time) in the event that they are unable to reasonably determine the source of the materials.
If you aren’t educated yet as to what the Conflict Minerals requirement may mean to you, now is the time. Reporting is required starting in 2013. Check out our previous blog post – and stay tuned for more information about what policyIQ can do to help you track your supply chain. Contact us to be connected to supply chain and compliance experts ready to help you implement your Conflict Minerals program.